2. (30 points) True or False. Pick TWO of the following three claims, and assess whether they are true or false. Do not answer all three (if you do, I will count your two worst responses). Do not forget to explain your answer (just a "true" or "false" gives zero points). All the assumptions in class carries here. (a) (15 points) Deborah's demand for pocket planner is relatively low. If the price for pocket planner goes down, her demand for pocket planner will go up solely because she is richer - the income effect. (b) (15 points) Expected utility is the sum of all possible outcomes, weighted by the probability that each outcome will occur. (c) (15 points) To solve the utility maximization problem for w(21, 12) = min {ri, z2), the first step is to calculate MRS