1) Steeve's preferences can be represented by a utility function over two arguments: hours per day resting R and hours per day skiing S. Imagine that the utility function is increasing in both argument, at a decreasing rate. If Steeve spends S hours skiing, he must also spend of hours in the gondola. Time in the gondola is waisted time; it has no value. In the addition to the time spend resting or skiing, Steeve can work. The wage per hour is w. Skiing cost p per hour. There are H hours in a day that can be allocated between resting, skiing and working. (a) Solve for the budget constraint, and represent it in a graph. (b) Describe the equation that determines an indifference curve, and solve for the marginal rate of substitution between R and S. (c) Show the indifference curves on a graph