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Please provide Complete description with step by step Explanation.Thanks It is Saturday morning. Sam is determined to accomplish two things over the weekend: doing laundry

Please provide Complete description with step by step Explanation.Thanks

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It is Saturday morning. Sam is determined to accomplish two things over the weekend: doing laundry and visiting the museum. She likes visiting the museum much more than doing laundry: visiting the museum gives her a utility of 20 while doing laundry only gives her a utility of 3. She has the following two options: Option 1: doing laundry on Saturday (t = 0) and visiting the museum on Sunday (t = 1); Option 2: visiting the museum on Saturday (t = 0) and doing laundry on Sunday (t = 1). Sam decides to schedule the unpleasant experience first by choosing Option 1. 1. (5 Points) Prove mathematically that Sam's preference for Option 1 cannot be explained by exponential discounting (the 6 model). Assume 0

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