For parts (g-h), suppose that a = 2.g) What is the optimal number of episodes of show 1 for Jeff to watch?h) What is the optimal number of episodes of show 2 for Jeff to watch?For parts (i-j), suppose that a = 6.i) What is the optimal number of episodes of show 1 for Jeff to watch?j) What is the optimal number of episodes of show 2 for Jeff to watch? There are two shows on Netflix that Jeff can watch, Show 1 and Show 2. x₁ measures the number ofepisodes watched of Show 1 and x2 measures the number of episodes watched of Show 2. Jeff'spreferences can be represented by u(x₁, x₂) = x² + ax². Jeff has 5 hours available for watching Netflixtoday. Each episode of Show 1 lasts 30 minutes, while each episode of Show 2 lasts one hour. For allquestion parts, round to three decimal places if necessary.

An indifference curve is a graphical representation of the combinations of two goods that provide…

g) What is the optimal number of episodes of show 1 for Jeff to watch? h) What is the optimal number of episodes of show 2 for Jeff to watch? For parts (i-j), suppose that a = 6. i) What is the optimal number of episodes of show 1 for Jeff to watch? j) What is the optimal number of episodes of show 2 for Jeff to watch?

g) What is the optimal number of episodes of show 1 for Jeff to watch? h) What is the optimal number of episodes of show 2 for Jeff to watch? For parts (i-j), suppose that a = 6. i) What is the optimal number of episodes of show 1 for Jeff to watch? j) What is the optimal number of episodes of show 2 for Jeff to watch?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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