Consider the consumption-savings problem in a two-period, Business Economics

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Consider the consumption-savings problem in a two-period

Consider the consumption-savings problem in a two-period model without government. Suppose the lifetime utility function is given by U(c,c')=In(c)+bIn(c'), where 0

(a) Please write down the lifetime budget constraint facing the consumer.

(b)Please derive the expression for the optimal choices of c and c'

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Business Economics: Consider the consumption-savings problem in a two-period

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Business Economics: Consider the consumption-savings problem in a two-period

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