The Almost-Graduating Senior Problem. Consider this situation faced by a first-semester senior in civil engineering who is exhausted from extensive job interviewing and penniless from excessive partying. Mary’s impulse is to accept immediately a highly attractive

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
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Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.6P
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The Almost-Graduating Senior Problem. Consider this situation
faced by a first-semester senior in civil engineering who is exhausted
from extensive job interviewing and penniless from excessive
partying. Mary’s impulse is to accept immediately a highly attractive
job offer to work in her brother ’s successful manufacturing company.
She would then be able to relax for a year or two, save some money,
and then return to college to complete her senior year and graduate.
Mary is cautious about this impulsive desire, because it may lead to
no college degree at al

a. Develop at least two formulations for Mary’s problem.
b. Identify feasible solutions for each problem formulation in Part (a).
Be creative!

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