Rafe is optimally choosing to consume 6 apples and 3 bananas. The prices of apples and bananas are p. - 7 and Pb-7. Which of the following utility functions over quantities of apples (a) and bananas (b) could represent Rafe's preferences? Ou(a, b)-a4/5 61/5 u(a, b)-a¹/5 64/5 u(a, b)-a2/3 b1/3 Ou(a, b)-a1/3 62/3

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter3: Preferences And Utility
Section: Chapter Questions
Problem 3.11P
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Rafe is optimally choosing to consume 6 apples and 3 bananas. The prices of apples
and bananas are p. = 7 and pb - 7. Which of the following utility functions over
quantities of apples (a) and bananas (b) could represent Rafe's preferences?
=
u(a, b)-a4/5 61/5
Ou(a, b) = a¹/5 64/5
Ou(a, b)-a2/3 b1/3
Ou(a, b)-a¹/3 2/3
Transcribed Image Text:Rafe is optimally choosing to consume 6 apples and 3 bananas. The prices of apples and bananas are p. = 7 and pb - 7. Which of the following utility functions over quantities of apples (a) and bananas (b) could represent Rafe's preferences? = u(a, b)-a4/5 61/5 Ou(a, b) = a¹/5 64/5 Ou(a, b)-a2/3 b1/3 Ou(a, b)-a¹/3 2/3
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