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What kind of preferences are represented by a utility function of the form u(x1, x2) = √x1 + x2? What about the utility function v(x1, x2) = 13x1 + 13x2?

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics

Section: Chapter Questions

Problem 1WNG

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Question

What kind of preferences are represented by a utility function of the
form u(x1, x2) = √x1 + x2? What about the utility function v(x1, x2) =
13x1 + 13x2?

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