Question: The first Question read the screenshots WOLFRAM MATHEMATICASWDENT EDITlON Demonstrations l mrhwmn l Wolflamcammunlly | Help 1. Consider a consumer who begins in period 0,

The first Question read the screenshots

The first Question read the screenshots WOLFRAM MATHEMATICASWDENT EDITlON Demonstrations l mrhwmnl Wolflamcammunlly | Help 1. Consider a consumer who begins in period

WOLFRAM MATHEMATICASWDENT EDITlON Demonstrations l mrhwmn l Wolflamcammunlly | Help 1. Consider a consumer who begins in period 0, with a stock of non-human wealth k0 (ownership of physical capital). The consumer - known as the representative consumer in macroeconomics - is assumed to live forever. In each period t, t: 0, 1, ..., she has 1 unit of time that she supplies in-elasti- cally on the labor market at the wage rate cut. The market rate of interest in period t is rt. The present value of the stream of labor income (maa, which is the stock of her human wealth, is _ 21. _\"'L \"'f h\" ' w\" + 1+r1 + (1+r1)(1+r2) + + (1+r1)(1+r2)...(1+r,) + The sum of her human wealth and non-human wealth is then given by k0 + ho. Let ctz 0 be her consumption in period t, t: 0, 1, The present value of the stream of consumption (920 is C_1 C_2 Cr C9 + 1+r1 + (1+r1)(1+r2) + + (1+r1)(1+r2)...(1+r,) + Let u[c] denote her utility in a period, when her consumption in that period is c. Suppose that 6, 0

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