Question 1 [6 points) Consider an economy with three dates (t=0,1,2) and two safe bonds. The payoffs and prices of the bonds are given as follows t=1 t=2 Price at t=0 Bond A: Bond B: 2 3 102 103 99.50 100.25 (a) Is there an arbitrage? (3p) (b) If yes, find an arbitrage portfolio. [3p]