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2. Jim's utility function is u(x;y)=xy. Jerry's utility function is u(x;y)= 1000xy+2000. Tammy's utility function is u(x;y)=xy(1xy). Oral's utility function is u(x;y)=1/(10+2xy). Marjoe's utility function is u(x; y)= x(y+1000). Pat's utility function is u(x;y)=0.5xy10000. Billy's utility function is u(x;y)=x/y. Francis's utility function is u(x;y)=xy. (1) Who has the same preferences as Jim? (2) Who has indifference curves whose general shape is similar to Jim's indifference curves? (3) Explain why the above answers differ..

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2. Jim's utility function is u(x;y)=xy. Jerry's utility function is u(x;y)= 1000xy+2000. Tammy's utility function is u(x;y)=xy(1xy). Oral's utility function is u(x;y)=1/(10+2xy). Marjoe's utility function is u(x; y)= x(y+1000). Pat's utility function is u(x;y)=0.5xy10000. Billy's utility function is u(x;y)=x/y. Francis's utility function is u(x;y)=xy. (1) Who has the same preferences as Jim? (2) Who has indifference curves whose general shape is similar to Jim's indifference curves? (3) Explain why the above answers differ.

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Unit-IV; Professional Sales Representative (PSR).pptx
 

2 Jims utility function is uxyxy Jerrys utility func.pdf

  • 1. 2. Jim's utility function is u(x;y)=xy. Jerry's utility function is u(x;y)= 1000xy+2000. Tammy's utility function is u(x;y)=xy(1xy). Oral's utility function is u(x;y)=1/(10+2xy). Marjoe's utility function is u(x; y)= x(y+1000). Pat's utility function is u(x;y)=0.5xy10000. Billy's utility function is u(x;y)=x/y. Francis's utility function is u(x;y)=xy. (1) Who has the same preferences as Jim? (2) Who has indifference curves whose general shape is similar to Jim's indifference curves? (3) Explain why the above answers differ.