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A consumer lives for two periods. She maximises the lifetime utility function subject to a budget constraint (note: ?? is initial wealth) Please explain well!

A consumer lives for two periods. She maximises the lifetime utility function subject to a budget constraint (note: ?? is initial wealth)

Please explain well!

\f(e) Suppose that A1 = Y{ = YE = 100 and r = 0, and p = 0.10. What is consumption in period 1? Explain the difference compared with the previous case

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