1. Indifference curve: The following indifference curve represents Mary's preference on market goods and non market time. Please answer the questions below.

a. If the combination of 7 hours of non market time and $50 of market goods generates a utility level of 100 utils for Mary, what is her utility level when she enjoys 8 hours of non market time and $30 of market goods?

b. Suppose currently Mary enjoys 7 hours of non market time. How much market goods is Mary willing to give up for an additional hour of non market time?

c. Suppose currently Mary enjoys 8 hours of non market time. How much market goods is Mary willing to give up for an additional hour of non market time?

d. Combining b and c, why does Mary become less willing to give up market goods for an additional hour of non market time?

e. If Mary can now enjoy 8 hours of non market time and $40 of market goods,what will happen to her utility level? Draw the new indifference curve on the graph above.

f. If Mary really enjoys cooking and cleaning and taking care of children, what would be the shape of her indifference curve - steep or flat?