Questiori 1 l [10 marks, max 200 words] The conventional view that economics takes on cheating is that one decides to cheat when there is a positive economic rent to reap from cheating. ChOOSE an action that is identified as I11013 okay' from the Academic Integrity Module you completed on iLearn. Do the following: o Analyse the economic cost and benefit of knowingly taking the academically dishonest action of your choice using the relevant framework from Unit 3 of the textbook. 0 Based on your analysis, discuss briey why someone would decide to knowingly cheat or not cheat on this assignment. Question 2| [10 marks, max 200 words] Consider a representative university student who decides how much time to spend on study. Let us call this student Bruno, who has been using academic cheating websites for a year in order to 'boost' his performance . Somehow, he has not been caught once. Now consider Angela, another representative university student who also decides how much time to spend on study. She has been a study group which helps her to keep up with the study material as well as to improve her time management and notetaking skills. A year ago, both students studied 35 hours per week and achieved 65%. Currently, they study 32 hours per week and achieve 75%. Assume i) the two students faced the same feasible frontier a year ago, and ii) they have the same preference. Do the following: o Illustrate the effect of cheating on Bruno's feasible frontier and his optimal decision using a fully labelled diagram where i) the horizontal axis represents the hours of free time p week, and ii) the vertical axis represents academic performance (measured out of 100). , Illustrate the effect of using a study group on Angela's feasible frontier and her optimal decision using another fully labelled diagram with the same axes as the previous diagram. o Explain the key information of your diagrams. Obviously, let us assume that Bruno's and Angela's preferences are represented by indifference curves that satisfy the usual properties explained in Unit 3 of the textbook