a) In the table below, derive Wanda's marginal benefit, MB, and marginal (opportunity) cost, MC, at each quantity (hours) of snorkeling. In the graph below, illustrate (plot) Wanda's MB and MC curves. Plot the values MB(Q) and MC(Q) at the quantities Q = 1, 2, ..., 7 (and not at the midpoints, 0.5, 1.5, 2.5, ..., 6.5). b) Circle the correct response in each of the brackets, [ ]. Should Wanda snorkel for more than two hours? [Yes / No], because at two hours (Q = 2), her MB(2) is [greater than / equal to / less than] her MC(2). c) Is six hours of snorkeling efficient for Wanda? [Yes / No], because at six hours (Q = 6), her MB(6) is [greater than / equal to / less than] her MC(6), and so she can [increase / maintain / decrease] her utility or happiness by [decreasing / not changing / increasing] the quantity of snorkeling. d) The efficient number of hours of snorkeling, Q*, is hours because MB(Q*) = and MC(Q*) = , and so MB(Q*) [ ] Mc(Q*). Illustrate Q* on the horizontal axis in the graph. Snorkeling hours, Q TB(Q) MB(Q) TC(Q) MC(Q) 0 $80 $20 $140 $35 2 $190 $55 3 $230 $80 4 $260 $110 $280 $145 $290 $185 $290 $230