Question: 1. max Consider the following consumer's problem: Eye Cot +1 +1 U = = + 1 + 1, subject to (1-T) wbyt R +1

1. max Consider the following consumer's problem: Eye Cot +1 +1 U = = + 1 + 1, subject to (1-T) wbyt R +1 +1 + (1) w + 1 hot + 1' Cyt + St+1 = Cot+1 = Lyt + byt lot+1 = 1, + h = 1, of +1 + y + 0 + 4 = 1, and 0

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