The Children's Online Privacy Protection Act (COPPA) was passed in 1998 and established the first framework for online privacy protection for children under 13 who use the Internet. Essentially, COPPA mandates what personal and marketing information, if any, webmasters can collect from minors and details what must be disclosed in a privacy policy. Given the expansive nature of data collection and widespread use of Internet connected devices, should COPPA be expanded to: (1) children who are 13-18 years old or (2) all citizens utilizing the Internet

3. saving two consumers, larry and jeff, have utility functions defined over the two periods of their lives: middle age (period zero) and retirement (period 1). they have the same income in period 0 of m dollars and they will not earn income in period 1. the interest rate they face is r. larry’s and jeff’s utility functions are as follow. = 0.5 + 0.5 and = 0.5 + 0.5 for each person is between zero and one and represents each consumer’s temporal discount econ 340: intermediate microeconomics. ben van kammen: purdue university. rate. a. write the budget constraint that applies to both jeff and larry in terms of consumption in each period and ), interest rate, and m. b. what is larry’s and what is jeff’s marginal rate of intertemporal substitution? c. what is the slope of the budget constraint? d. write each consumer’s condition for lifetime utility maximization. e. re-arrange the conditions from part (d) to solve for the ratio, . f. if > which consumer will save more of his middle age income? g. if > 1 1+ , in which period will larry consume more: = 0 or = 1?