6. LO 1 In the example with credit market imperfections in general equilibrium, change the borrowing con- straint (10.5) to a collateral constraint identical to (10.13). Assume that the borrowers in the population each own quantity of housing H, and that the price of house: is p, which is exogenous. Borrowers cannot sell their houses in the current period. Assume that lend- ers have no houses. a. Determine the consumption of borrowers and of lenders in equilibrium, in the current and future periods, and determine the market interest rate b. What effect: does an increase in the price of housing, p. have on consumption of lenders and borrowers in the current and future periods, and on the market Interest rate? Does this make lenders worse off or better off? Are borrowers better off or worse off? c. Explain your results in part (b)