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PEA 2024Question 28mcqEasy-Moderate

AA has a pond which yields ff fish at t=1t=1 and nothing at t=2t=2. He consumes only fish. Storage is costless and undepreciated; no discounting. Utility in any period tt is u(ct)=ctnu(c_t)=c_t^{\,n} with 0<n<10<n<1. Optimal consumption?