Question: Could you please help me solve the below question: Question-6 Suppose a pay-as-you-go social security system where social security is funded by a proportional tax

Could you please help me solve the below question:

Question-6 Suppose a pay-as-you-go social security system where social security is funded by a proportional tax on the consumption of the young. That is, the tax collected by the government is sc, where sis the tax rate and c is consumption of the young. Retirement benets are given out as a xed amount b to each old consumer. Can social security work to improve welfare for everyone under these conditions? Use diagrams to answer this question. (10 Points]

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