Those questions are cumulative. Thank you!

4.

Question 4 6 pts Devah lives for two periods: period 1 in which she works and earns income, and period 2 in which she is retired and earns no income. At the start of her life, her utility over consumption is given by U(61,62) = (Cl)0'5 + 6 [(02)O'5] where c1 and c2 are consumption in periods 1 and 2, respectively (both measured in dollars), and 6 is a measure of myopia or \"present bias\" (0