Question: Question [6]: [6 marks] Consider a consumer in a two period economy. Denote consumption goods as c, and c2. Suppose that this consumer has an

Question [6]: [6 marks] Consider a consumer in a two period economy. Denote consumption goods as c, and c2. Suppose that this consumer has an endowment of (6, 0). Suppose that this consumer has access to markets (where goods 1 and 2 are traded for one another) and that the price ratio is Itr. (a) Assume that this consumer also has access to a technology which allows her to transform x1 units of the period 1 good into x2 = 2vx1 units of period 2 good. State the consumer's budget set /budget line. (b) Now assume that a profit maximizing firm operates this technology and that the consumer owns the firm. State the consumer's budget set /budget line in this case

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