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Answer to Question #112187 in Microeconomics for Jay
Question #112187
In his leisure time, Abed loves to watch television, and luckily for him, we live in the golden age of television with a functionally endless supply of surprisingly good television. Abed also eats snacks, because he gets hungry, but that’s just about all that Abed does.
We could describe Abed’s preferences using a utility function over snacks (s) and leisure (l) as
We could describe Abed’s preferences using a utility function over snacks (s) and leisure (l) as
Expert's answer
U(s,l)=0.5s0.75 +1.5L
The two derive a combinational utility
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