Consider an Overlapping generations economy with constant population N = 100 of young individuals are born each period. Individuals are endowed with yl units of the consumption good when young and y2 when old, the initial old also starts with yg. The utility function of one typical agent is: u(c1, 62) = log(c1) + W. 1. Consider the case in which y1 = 5 and y2 = 2. (a) State and solve the Planner's Problem. (b) Suppose the initial old are endowed with a total of M = 100 units of at money. Write down equations that represent the constraints on rst and second-period consumption for a typical individual. Combine these constraints into a lifetime budget constraint. (c) Find the Stationary Competitive Equilibrium