The rational rule of consumption is to consume more today if the: marginal benefit of a dollar of consumption today is greater than (or equal to) the marginal benefit of spending a dollar plus interest in the future. price of consumption today exceeds the dollar-plus-interest in the future. marginal benefit of a dollar of consumption today is less than the marginal benefit of spending a dollar plus interest in the future. real interest rate in the future is expected to be higher than the real interest rate today.

Question

23-03-2021
Business

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The rational rule of consumption is to consume more today if the: marginal benefit of a dollar of consumption today is greater than (or equal to) the marginal benefit of spending a dollar plus interest in the future. price of consumption today exceeds the dollar-plus-interest in the future. marginal benefit of a dollar of consumption today is less than the marginal benefit of spending a dollar plus interest in the future. real interest rate in the future is expected to be higher than the real interest rate today.

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ewomazinoade ewomazinoade · Answer 1 · 2021-03-26T02:40:59+01:00

Answer:

marginal benefit of a dollar of consumption today is greater than (or equal to) the marginal benefit of spending a dollar plus interest in the future.

Explanation:

A rational consumer should consume more today when the marginal benefit of a dollar of consumption today is greater than (or equal to) the marginal benefit of spending a dollar plus interest in the future.

A rational consumer should continue to consume up until the point where the marginal benefit of a dollar of consumption today is equal to the marginal benefit of spending a dollar plus interest in the future

If the marginal benefit of a dollar of consumption today is less than the marginal benefit of spending a dollar plus interest in the future, a rational consumer should postpone consumption until the future.