Question: Please help me with finding the answer for this question, all help is appreciated. 5. (20 points) Solve the following optimal control problem for the

Please help me with finding the answer for this question, all help is appreciated.

Please help me with finding the answer for this question, all help

5. (20 points) Solve the following optimal control problem for the exhaustible resource: Maximize f: e'pt In C dt subject to 5: = rx c x(0) =xo x(t) 30 x(T) =xa > 0 where c is the consumption (control variable), x is the amount of resource (state variable), r is rate of return on the resource, and p is the discount rate. Solve for the optimal level of consumption. Also draw the time path of x(t) and c(t) when r > p

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