Consider the Utility function U(x,y)= x3y2, where x denotes the amount of commodity 1 and y the amount of commodity 2. What is the value of utility for basket B in the following graph?

A movie studio invited a representative audience to a preliminary screening of a movie. At the end of the movie the members of the audience were asked to answer a survey comparing the ending of the movie with two alternative endings. For simplicity let us denote the ending the audience saw by A, and the two alternative endings by B and C. Suppose that a member of the audience provided the following answers.Is A at least as good as B? YESIs A at least as good as C? YESIs B at least as good as A? YESIs B at least as good as C? NOIs C at least as good as A? YESIs C at least as good as B? NORepresent the answers as arrows between the alternatives. Draw an arrow for each YES answer from the alternative that is at least as good to the other alternative. Which of the following drawings do you obtain?

A movie studio invited a representative audience to a preliminary screening of a movie. At the end of the movie the members of the audience were asked to answer a survey comparing the ending of the movie with two alternative endings. For simplicity let us denote the ending the audience saw by A, and the two alternative endings by B and C. Suppose that a member of the audience provided the following answers.Is A at least as good as B? YESIs A at least as good as C? YESIs B at least as good as A? NOIs B at least as good as C? YESIs C at least as good as A? NOIs C at least as good as B? YES

Consider the Utility function U(x,y)= x2y, where x denotes the amount of commodity 1 and y the amount of commodity 2. What is the value of utility for basket C in the following graph?

A movie studio invited a representative audience to a preliminary screening of a movie. At the end of the movie the members of the audience were asked to answer a survey comparing the ending of the movie with two alternative endings. For simplicity let us denote the ending the audience saw by A, and the two alternative endings by B and C. Suppose that a member of the audience provided the following answers.Is A at least as good as B? NOIs A at least as good as C? YESIs B at least as good as A? YESIs B at least as good as C? YESIs C at least as good as A? YESIs C at least as good as B? NO

Suppose that a consumer has preferences on baskets of food (commodity 1) and transportation (commodity 2) that satisfy more is better. If the agent is offered the set of bundles A, B, C, E, and F. What can we say about their choice?

A movie studio invited a representative audience to a preliminary screening of a movie. At the end of the movie the members of the audience were asked to answer a survey comparing the ending of the movie with two alternative endings. For simplicity let us denote the ending the audience saw by A, and the two alternative endings by B and C. Suppose that a member of the audience provided the following answers.Is A at least as good as B? YESIs A at least as good as C? YESIs B at least as good as A? NOIs B at least as good as C? YESIs C at least as good as A? NOIs C at least as good as B? YESWhich utility function encodes this preference information?

Suppose that a consumer has preferences on baskets of food (commodity 1) and transportation (commodity 2) that satisfy more is better. If the agent is offered the set of bundles A, E, F, G, and H. What can we say about their choice?

A movie studio invited a representative audience to a preliminary screening of a movie. At the end of the movie the members of the audience were asked to answer a survey comparing the ending of the movie with two alternative endings. For simplicity let us denote the ending the audience saw by A, and the two alternative endings by B and C. Suppose that a member of the audience provided the following answers.Is A at least as good as B? NOIs A at least as good as C? NOIs B at least as good as A? YESIs B at least as good as C? YESIs C at least as good as A? YESIs C at least as good as B? NOWhich utility function encodes this preference information?

A movie studio invited a representative audience to a preliminary screening of a movie. At the end of the movie the members of the audience were asked to answer a survey comparing the ending of the movie with two alternative endings. For simplicity let us denote the ending the audience saw by A, and the two alternative endings by B and C. Suppose that a member of the audience provided the following answers.Is A at least as good as B? NOIs A at least as good as C? NOIs B at least as good as A? YESIs B at least as good as C? NOIs C at least as good as A? YESIs C at least as good as B? YESWhich utility function encodes this preference information?