QUESTION 1

Jacquee and Shariff have identical preferences but Shariff has a lower opportunity cost of time. We should expect that, compared to Jacquee, Shariff:

A$.$ will have a higher total utility of income

B$.$ will have a higher marginal utility of income

c$.$will consume more time$-$Intensive commodities

D$.$will consume fewer time$-$Intensive commodities'

QUESTION 2

Kevin received $80$ total units of utility from the first four chips he consumed. If the marginal utilities of the first, second, and third chips are $20,25,$ and $20,$respectively, the marginal utility of the fourth chip is:

A$.65$ units of utility

B$.15$ units of utility

C$.$ unknown, since Kevin's utility does not conform to the usual rules

D$.$$20$ units of utility