Explain your answer! which of the following best represents time preference?

a.
thomas invests money in apple today, which is subsequently used by apple to fund additional investment purchases that will benefit future shareholders.

b.
alex smokes a pack of cigarettes per day even though he knows that he may face poor health down the road because of his smoking habit.

c.
max saves $300 per month from his paychecks for retirement.

d.
sarah is spending $20,000 per year in tuition and other expenses to attend college with the hopes of earning a higher income in the future.