Please answer this question, thank you so much!

1. A student maximizes her utility over two periods. In Period 1, she gets no utility from leisure; she devotes all her time to studying. The student takes a loan to pay her tuition (T) and to nance her consumption (0,) in Period 1. The amount she borrows (B) is: (1) B = T + C, The real interest rate is r. In Period 2, the student has a labor-leisure choice. She has one unit of time to allocate to labor (L) or leisure (l-L). The real wage rate is w. The student's consumption (C2) is (2) C2 = wL - (I +r)B in Period 2. The student maximizes M(Cr) + l3 [u(C2) + VU-LH , 0 (I +r)T] that you may need to get positive solutions for consumption, labor supply, and leisure. A. (7 points) Derive the optimality condition for the student's choice over C2 andL (i.e., the labor-leisure margin), and give a brief intuitive explanation of what this condition implies. B. (8 points) Derive the optimality condition for the student's choice over C , and C; (i.e. the Euler equation), and give a brief intuitive explanation of what this condition implies. Briey indicate how your results reect (or don't reect) a consumption smoothing motive. C. (8 points) Assuming that leisure and consumption in the two periods are normal goods, briey indicate what are the income and substitution effects of an increase in the real wage rate w on C,, C2, B, and L. D. (6 points) Assuming that leisure and consumption in the two periods are normal goods, briey indicate what are the income and substitution effects of an increase in tuition expenses T on C1}, C2, B, and L. E. (8 points) Assuming that leisure and consumption in the two periods are normal goods, briey indicate what are the income and substitution effects of an increase in the real interest rate ron C}, C2, B, and L