Consider the consumption savings problem faced by an individual living in T = 100 periods with per period endowment y = 7+. consisting of a permanent and transitory component. Bu(ci) s.t. max {ca+10 T 1-0 =0 c+a+1(1+r)a + y Vt at+1 -B ao = 0 a) Assume CRRA utility. Solve for {co as precisely as possible. b) Plot the time path of optimal consumption and savings/borrowing {et, at+1}o for a non-constant se- quence of e, of your choice. c) Does a one unit increase in y have the same effect as a one unit increase in e, on c? Why or why not? Argue your answer with mathematics and then explain the economies.