3. Nontraded goods. Let x and y be traded as in the model of this chapter. In addition, let N be a nonstorable nontraded domestic good generated by an exogenous endowment, and let N∗ be a nonstorable (100)⇒ nontraded foreign good also generated by exogenous endowment. Let the domestic agentís utility function be u(cxt, cyt, cN )=(C1−γ)/(1−γ) where C = cθ1 x cθ2 y cθ3 N with θ1 + θ2 + θ3 = 1. The foreign agent has the same utility function. Show that trade in goods under zero capital mobility does not achieve efficient risk sharing.