(Answered) This is a question about bellman equationa fnt mt

Management Studies

This is a question about Bellman equation

a) F(N_t) = M_{t *}N_t^1/2( Technology)

Σ∞_{t=0 * B}^tU(C_t ) ( preferences)

M_{t+1 =}M_{t -}α N_t( law of motion)

using Bellman equation, state planner's problem at t

b) Do the same in terms of H_{t +1}so the choice variable is H_t+1and explain how to find steady state of M*

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