2. Consider the overlappinggenerations economy with agents who live for two periods seen in class. The endowment of the consumer is ('fliiilllutl + 1)} = {raw-ma} for all t and hisfher preferences are given by \"Jay, (:0) = log (:5; + log (:9 for all t. The initial old is endowed with M units of at currency. The key question here is: can money have value in this economy? The following questions will shed some light on this issue. The maximization problem of generation 3'. agent is: max log cg + log on ewe-MM subject to M cg + _ = my, t r r + M . = 'u , a D 3rlr+1 M 2 {L where p, E L is the price level a time t, that is, the price of a unit of consumption goods at tinlimt in terms of money. The meaning of the last constraint is that agents cannot issue money. {a} Find the solution of the maximization problem above, i.e., nd (cg, on) as a function of the endowments and prices [pt and 31\