Question 1: Two-period model where C 1 and C2 are perfect substitutes 1. Draw the budget constraint with Y1 = 100, Y2 = 50, and r = 0.2. 2. Draw the indifference curves for the preference that is represented; by the lifetime utility function C1 + 302. where ,3 = 1. Do it for various Eevels of lifetime utility. such as 100, 150, and 200. 3. Using the budget constraint and the indifference curves, determine the optimal values of Cl and Cg. Does the household have positive consumption in both of the periods or only in one of the two periods? Explain the result. 4. How does the result change when we change the value of J3 to 0.5? Explain the result