question 1pls

Question 1: (5 points) Suppose that our representative consumer lives for one period, earns 5 coconuts an hour (that is w = 5), enjoys non-earned income of 8 coconuts (that is It = 8), pays lump sum tax of 7 coconuts (that is 7 = 7), and has the following preferences over consumption and leisure U(c, l) = min (4c, 31). Also, assume that h = 16, where h is total time available to our consumer. First, determine the consumer's optimal choice of consumption and leisure and show optimal consumption bundle, indifference curves and budget constraint in a diagram with the consumption on the vertical axis and leisure on the horizontal axes). Second, assume that the lump sum tax is increased to 9 coconuts. Illustrate this new budget constraint in a separate diagram. Question 2: (5 points) Consider the Solow growth model. Suppose that F(K, N) = zK"N1-a. where a = 0.3. Also. assume that capital depreciation rate is 10% (that is d = 0.1), savings rate