It is Friday and Maria is planning when to do her homework. She has to do her homework on one of the following days: Friday, Saturday, Sunday, or Monday. These four options provide different utility streams as follows. Do homework on Friday Do homework on Saturday Do homework on Sunday Do homework on Monday Friday Saturday Sunday Monday -5 5 10 4 -5 5 5 0 0 0 10 -5 10 10 10 -5 1. Suppose Maria is an exponential discounter with 6 = 0.9. On Friday, when does she plan to do her homework? When does she actually do her homework? 2. Suppose Maria is an exponential discounter with d= 0.7. On Friday, when does she plan to do her homework? When does she actually do her homework? 3. Suppose Maria is a naive hyperbolic discounter with 6 = 0.9 and 3 = 0.9. On Friday, when does she plan to do her homework? When does she actually do her homework? 4. Suppose Maria is a naive hyperbolic discounter with 6 = 0.9 and 3=0.8. On Friday, when does she plan to do her homework? When does she actually do her homework? 5. Suppose Maria is a sophisticated hyperbolic discounter with 6 = 0.9 and 3 = 0.8. On Friday, when does she plan to do her homework? When does she actually do her homework? 6. Continue to assume that Maria is a sophisticated hyperbolic discounter with 80.9 and B=0.8. Suppose now that on any of the four days, Maria can pay an instantaneous cost of 1 and use a commitment device that forces her to do the homework on a particular day. For example, if on Saturday she uses the commitment device to force herself to do the homework on Sunday, it would incur a cost of 1 on Saturday. Can Maria be made. better off by using the commitment device? Why?