Assume that there are two periods of consumption: Working years (time period 1) and retirement (time...

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Assume that there are two periods of consumption: Working years (time period 1) and retirement (time period 2). Because of the Social Security system, George receives an endowment of 100 units during his working years and 10 units for his retirement. If George's consumption in periods 1 and 2 are c and c, respectively, and his life-time utility is cc, how much does he consume in period 2 if he can save or borrow between periods 1 and 2 at a rate of 100% (r=1)? (Instructions: Write only numbers. Please keep 4 decimal places when you are doing your calculations. Round your final answer to to one decimal places, for example if you find $18.34, you should write as 18.3. If you find -13.00002, you should write as -13) Assume that there are two periods of consumption: Working years (time period 1) and retirement (time period 2). Because of the Social Security system, George receives an endowment of 100 units during his working years and 10 units for his retirement. If George's consumption in periods 1 and 2 are c and c, respectively, and his life-time utility is cc, how much does he consume in period 2 if he can save or borrow between periods 1 and 2 at a rate of 100% (r=1)? (Instructions: Write only numbers. Please keep 4 decimal places when you are doing your calculations. Round your final answer to to one decimal places, for example if you find $18.34, you should write as 18.3. If you find -13.00002, you should write as -13)