Kobmison Crusoe spends 4 hours a day catching fish and picking coconuts. He can always cateh 2umioer of coconuts he eats per day and Fis the number of ish he eats per day, How many fish will hechoose to eat per day?F= 2LFor-2/.

here we calculate the given by following method as follow;

Koonson Crusoe spends 4 hours a day catchine fish and picking coconuts. He can always caen per hour and he can always gather 3 coconuts per hour. His utility function is CF. where C number of coconuts he eats per day and Fis the number of fish he eats per day. How many fiah wih he E=4 E: LF

Koonson Crusoe spends 4 hours a day catchine fish and picking coconuts. He can always caen per hour and he can always gather 3 coconuts per hour. His utility function is CF. where C number of coconuts he eats per day and Fis the number of fish he eats per day. How many fiah wih he E=4 E: LF

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Form Utility

The term utility in general refers to the satisfaction earned from usage of a particular product or service. Utility always plays an important role because it influences various important elements like demand & thereby the price of the good or service as well. Though utility is not easy to measure, various types of economic models can be used indirectly. There can be various types of utilities like economic utility, marginal utility, cardinal utility, form utility.

Question

Kobmison Crusoe spends 4 hours a day catching fish and picking coconuts. He can always cateh 2
umioer of coconuts he eats per day and Fis the number of ish he eats per day, How many fish will he
choose to eat per day?
F= 2LF
or
-2/.

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