Q12)
Consider a consumer who can purchase different combinations of shirts and pairs of sneakers.
She likes 2 shirts and 2 pairs of sneakers the most (which we label (2,2) ), but prefers 2 pairs of
sneakers and one shirt (2,1) to one pair of sneakers and two shirts (1,2) Which of the following
utility functions could represent her preferences? Note: u(2,2) means the utility for the bundle
(2,2), which has 2 shirts and 2 pairs of shoes, etc.
u(1,2)=5,u(2,2)=2,u(2,1)=1u(1,2)=1,u(2,2)=5,u(2,1)=2u(1,2)=2,u(2,2)=1,u(2,1)=5u(1,2)=2,u(2,2)
=5,u(2,1)=1.
Q12) Consider a consumer who can purchase different combinations o.pdf
1. Q12)
Consider a consumer who can purchase different combinations of shirts and pairs of sneakers.
She likes 2 shirts and 2 pairs of sneakers the most (which we label (2,2) ), but prefers 2 pairs of
sneakers and one shirt (2,1) to one pair of sneakers and two shirts (1,2) Which of the following
utility functions could represent her preferences? Note: u(2,2) means the utility for the bundle
(2,2), which has 2 shirts and 2 pairs of shoes, etc.
u(1,2)=5,u(2,2)=2,u(2,1)=1u(1,2)=1,u(2,2)=5,u(2,1)=2u(1,2)=2,u(2,2)=1,u(2,1)=5u(1,2)=2,u(2,2)
=5,u(2,1)=1
