Problem 3 Consider a two-date economy and a consumer with utility function over consumption at each period cl- u(c) 1 - where y > 0. Define the intertemporal utility function as v(C1,0) = u(c) + uc). Show that the consumer will always prefer a smooth consumption stream to a more variable one with the same mean, i.e., 0199392) > v[c1,0z). v). vata at