Explain what time inconsistency is using the example of a person deciding whether to stopsmoking today or in the future

Answer two ( question 1 and question 3 from the assignment attached and I wrote the also too) Make sure your answer clearly stateswhich question and sub-question you are answering. Each sub-question has a strict word limit.Question 1 – Behavioural Economics:a) Explain what time inconsistency is using the example of a person deciding whether to stopsmoking today or in the future.b) Imagine you design a commitment device to help time-inconsistent people avoidprocrastinating. Explain the difference between sophisticated and naïve time-inconsistentagents, and whether agents in the two groups would take up the commitment device. c) You are asked by the government to design a commitment device to help people stopsmoking. What would your optimal commitment device look like? Make sure to mention thefollowing aspects of your commitment device: Who will benefit and who won’t benefit from it? What are the advantages and disadvantages of making the device more or less flexible?d) The government now wants you to run focus group discussions with potential users to betterunderstand how people will react and use the commitment device you designed. What typeof information do you hope to gather with the focus group discussions? How would you designand structure the focus group discussions? What potential problems/difficulties could youencounter during these discussions and how would you solve these?Question 3 – Pricing:a) Imagine you have been tasked with introducing a new product into the marketplace, antimalarial bed nets for poorer households. What factors should you consider when pricing this product? Make sure you fully discussthese factors and how they would influence your pricing strategy for this product! (30Points – 1400 words)b) What would you consider the best distribution channel for this new product and why? (E.g.,Local kiosks, door-to-door salespeople, outdoor veggie stands, supermarkets, public healthclinics, etc.)c) How would you incentivize the distributors? Provide the specific approach you would use andwhy.