ALL 3 problems in the exam script (a separate pdf file herein) have an equal wei

ALL 3 problems in the exam script (a separate pdf file herein) have an equal weight of
1/3 in the overall mark for this problem set. Differently from the real exam at the end
of the year that will give you a choice of 2 out of 3 problems, when working on the past year’s exam (in ECM194 – ignore the code, the material is the same) as a problem set now, try to solve ALL 3 problems neatly, providing the appropriate economic intuition. Lecture notes, slides and additional textbooks could be used. Short but clear and correct answers will be marked higher than long but imprecise or irrelevant ones.
Comments from Customer
I only need answer to one question out of first two question as I have figured out the third question. So kindly answer at the earliest one question out of first two questions.