Mike is a construction Worker. He gets Income I"for his working during the current month. However, there is uncertainty for next month. It the weather is bad he cannot work and gets zero income, Weather is bad with probability TC He spends his current in come on current month's consumption and savings for next month's consumption . He maximize the dis counted summation of his expected utility over the two mouths when he decides on his current consumption and savings He he maximizes " uccil + PEU ((2), where ucc) = log(c) The Interest rate on savings is "All @ Set up Mike's problem. Be clear about his choice variables his object function, and his budget constraint. Then, simplify the problem to have only two choices