a) Write down the budget constraints in the record keeping equilibrium. b) Suppose in period t + 1 each young person gives away of " coconuts to old people no matter what. What is the only possible outcome in terms of consumption for young and old? Explain your answer. c) Suppose instead a contract can be written so that OR Pill = Tund, where , are coconuts given away in youth in period t and T1 is the conversion rate in period t + 1. Write down the lifetime budget constraint, explain how the conversion rate is determined and determine its value