Answer the following Consider an inter-temporal model with a representative household given by the following utility...

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Answer the following Consider an inter-temporal model with a representative household given by the following utility function: 2 - $(+) [ U= (G-6)-0 0 1+2 where > 0,2 0, 720 and p > 0. c, and I are the consumption and labor in period. t. o denotes the minimum level of consumption that a household must consume for surviving in each period. The representative households' endowments in each period are given by wi= {1,k) and w(1,0) respectively, where I>0 and k>0. Derive the inter-temporal budget constraint for the representative consumer. Also, derive the Euler's equation and solve for the consumer's optimum. Answer the following Consider an inter-temporal model with a representative household given by the following utility function: 2 - $(+) [ U= (G-6)-0 0 1+2 where > 0,2 0, 720 and p > 0. c, and I are the consumption and labor in period. t. o denotes the minimum level of consumption that a household must consume for surviving in each period. The representative households' endowments in each period are given by wi= {1,k) and w(1,0) respectively, where I>0 and k>0. Derive the inter-temporal budget constraint for the representative consumer. Also, derive the Euler's equation and solve for the consumer's optimum.