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Suppose Jane has 3 years of college, Pam has 2 years of college, and Mary has 1 year of college. Jane earns $21 per hour, Pam earns $19 per hour, and Mary earns $16 per hour. We know their abilities are the same, and the difference in educational attainment is completely due to different discount rates. How much can the available information tell us about Jane's, Pam's, and Mary's discount rates?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92762102

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