So I do not know how to write utility functions and I need help with these probl
ID: 1179383 • Letter: S
Question
So I do not know how to write utility functions and I need help with these problems. I'm not sure if I did the first one right or not too.
2) Write a utility function for the following individuals:
a) Miss Muffett likes curds (x) and whey (y) and is always willing to give up one cup of curds for ten fluid ounces of whey.
Answer: U=x+10y
b) Jack Sprat can eat no fat (x) but he can always give it to his wife. She gives him lean (y),which he can never get enough of
Explanation / Answer
Answer a)
U(x,y) = 10/1 = 10
Answer b) U(x,y) = 1/1 = 1
Answer c) U(x,y) = 1/10
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