This problem set is meant to give you practice using Dynamic Programming. It may seem tedious but by the end you should be getting an idea about the intuition behind optimal intertemporal trade-offs. Have fun and talk to your classmates about your solutions. 1 Problem #1 Consider the following consumption-savings problem. The household has a pe- riod utility function defined on consumption to be u(ct) where u' > 0, u" 0, and f"(kt)