1.   Consider the notion of opportunity cost.  Describe your opportunity cost of

• buying the book for this course
• coming to class this Friday

2.   In the soda machines on the 4th floor of Mahar all sodas are $1.25.  The Diet Coke runs out between stocking, while the Diet Pepsi typically does not.  Using the concept of revealed preferences, what does this observation suggest about the utility functions of those spending time in Mahar Hall?