1.On Monday, Tracy is assigned a task that she must complete by Thursday. If she completes it right away on Monday, it will cost her 8 utils (units of utility); if she completes it on Tuesday, it will cost her 10; if she completes it on Wednesday, it will cost her 13; and if she completes it on Thursday, it will cost her 18. Tracy is present biased with - preferences with = 1 and =3/4.

a) Which day will she complete the task? (8 points)

b) Does her behavior violate the normative theory of intertemporal choices? Briefly explain. (6 points)