Suppose that there is limited commitment in the credit market but lenders are uncertain about the value of collateral. Each consumer has a quantity of collateral W but from the point of view of the lender, there is a probability x that the collateral will be worth P in the future period and probability 1-x that the collateral will be worthless in the future period. Suppose that all consumers are identical. How will a decrease in x affect the consumer's consumption and savings in the current period, and consumption in the future period? Explain your results. (a) If the consumer is a borrower that is restricted by the collateral constraint, then the result of a decrease in x is future consumption, and current consumption, savings. (b) If the consumer is a borrower that is not restricted by the collateral constraint, then the result of a decrease in x is current consumption, savings. future consumption, and