Consider the following overlapping generations model where each generation lives for two periods
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Consider the following overlapping generations model where each generation lives for two periods

Consider the following overlapping generations model where each generation lives for two periods. The utility function of each generation is given by


Hint
An overlapping generations model denotes a simplified hypothetical representation of complex economic processes over a set of identities and equations that define the behavior of numerous agents interacting together. The most distinct feature of the model is the manner in which it captures the varying behavior of customers over diverse periods of their existence....
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