Question: Question is attached as an image. Suppose that a consumer lives two periods. The first period income is given by 1 and the second period

 Question is attached as an image. Suppose that a consumer lives

Question is attached as an image.

two periods. The first period income is given by 1 and the

Suppose that a consumer lives two periods. The first period income is given by 1 and the second period income is given by /2. Suppose that there is only one good in each period, say a consumption good. The price of the consumption good in each period is p. The interest rate is 0

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