Question

biven as y, = 1000 and
Md 2 stand for 'today' and 'nex
market rate of interest is 8%
values for consumption
maximises his utility.
is u=C, C 0.6 this income
000 and y) = 648 (Here I
nd 'next year'). If the
rest is 8% per annum, find the
umption in two periods which
Arvind's utility function is
where w=wealth, this
ns no other income. There is a
atility function is given as u(w)= w:
te w=wealth, this present wealth is
Rs. 40,000. He earns no other income. In
probability that he will need a surgical
operation in connection with a health problem.
case the surgery is done, it will cost Rs.20,000.
le is thinking of going in for a health insurance​

Answer 1

Answer:

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