(10) Suppose that James and Staniel have each decided to allocate RMIOOD per year to an entertainment budget in the form of hockey games or rock concerts. They both like hockey games and rock concerts and will choose to consume positive quantities of both goods. However, they differ substantially in their preferences for these two forms of entertainment. James prefers hockey games to rock concerts, while Staniel prefers rock concerts to hockey games. (i) Explain the indifference curves for James and Staniel, respectively. Draw the diagrams. (12 marks) (ii) Using the concept of marginal rate of substitution, explain why the two sets of curves are different from each other. {8 marks)