The following two questions treat the consumer as making sequential decisions:a decisionin period 1 and a decision in period 2.(c)In period 1 the consumer can choose c1,b subject to constraints,write theconstraints down in period 1 prices.(d)Assuming the consumer has already chosen Ci,b in period 1,in period 2 theconsumer can choose c2 subject to a constraint,write down the constraint in period2 prices.The remaining questions assume that the consumer makes a single decision in period 1regarding his intertemporal consumption and borrowing/lending,i.e.decides everythingin period 1.For everything below continue to use the values for the prices,interest rateand endowments above.(e)Write the consumers present value budget constraint and mention why you neednot include the variable b in this constraint.(f)Solve thethe problem and find the optimal consumption levels in period 1 andperiod 2 ci,c2.(g)How much does the consumer borrow?How much does the consumer lend?What is b*?