Part II. Use the graph on page 2 as a basis for your responses. 1. Refer to the graph on page 2, assuming no budget constraint, which indifference curve represents the highest total utility that Mrs. Bain can enjoy from consuming days of horseback riding and days of skiing per semester? Justify your answer. Explain using the objective of consumers per the consumer behavior theory and assumption(s) of the Ordinal Utility Approach to support your choice. 2. Given a particular budget, if Mrs. Bain would like to maximize her utility from days of horseback riding and days of skiing per semester, would she choose to consume at point U? Why or why not? 3. Given a particular budget, if Mrs. Bain would like to maximize her utility from days of horseback riding and days of skiing per semester, would she choose to consume at point W? Why or why not? 4. Which bundle of goods will maximize Mrs. Bain's utility given her budget for days of horseback riding and days of skiing per semester? Justify your answer. Be sure to include in your response the condition necessary to theoretically ensure utility maximization given a particular budget. 5. Answer 5.1 to 5.4 given that: Mrs. Bain has a $900 per semester budget for skiing and horseback riding; skiing costs $150/day; and horseback riding costs $200 per day. 5.1 How many days can Mrs. Bain spend horseback riding per semester if she spends her entire budget on horseback riding? 5.2 How many days can Mrs. Bain ski per semester if she spends her entire budget on skiing?