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he expected value of earnings in the middle period of life is $70,000, and thus the present discounted value of expected lifetime labor earnings is
he expected value of earnings in the middle period of life is $70,000, and thus the present discounted value of expected lifetime labor earnings is $90,000. If the consumer wishes to plan to maintain constant consumption over her lifetime, she will plan to consume $30,000 in each period
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
