There are two shows on Netflix that Jeff can watch, Show 1 and Show 2. Where x₁ measures the number of episodes watched of Show 1 and x₂ measures the number of episodes watched of Show 2, Jeff's preferences can be represented by u(x₁, x₂) = x² + ax². Jeff has 13 hours available for watching Netflix today. Each episode of Show 1 lasts hours, while each episode of Show 2 lasts 1 hour. Draw an indifference curve for Jeff, then answer the following questions. If rounding is needed, please round to 3 decimal places. a) When a = 2, Jeff optimally watches episodes of Show 1..... (fill in the blank) b) ... and he watches episodes of Show 2. (fill in the blank) c) When a = 6, Jeff optimally watches episodes of Show 1..... (fill in the blank) d) ... and he watches. episodes of Show 2. (fill in the blank)

There are two shows on Netflix that Jeff can watch, Show 1 and Show 2. Where x₁ measures the number of episodes watched of Show 1 and x₂ measures the number of episodes watched of Show 2, Jeff's preferences can be represented by u(x₁, x₂) = x² + ax². Jeff has 13 hours available for watching Netflix today. Each episode of Show 1 lasts hours, while each episode of Show 2 lasts 1 hour. Draw an indifference curve for Jeff, then answer the following questions. If rounding is needed, please round to 3 decimal places. a) When a = 2, Jeff optimally watches episodes of Show 1..... (fill in the blank) b) ... and he watches episodes of Show 2. (fill in the blank) c) When a = 6, Jeff optimally watches episodes of Show 1..... (fill in the blank) d) ... and he watches. episodes of Show 2. (fill in the blank)

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter10: Consumer Choice Theory

Section: Chapter Questions

Problem 9P

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