Period 1 Budget Constraint: C1 + (B1 /P + K1 ) = (w/P) 1 ● L
Period 2 Budget Constraint: C2 = (w/P) 2 ● L + i 1 ● (B1 /P + K1 ) + (B1 /P + K1 )
Derive the 2 period budget constraint.
Hint C1 + C2 /??? = ????
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