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 1and x2 measures the number of episodes watched of Show 2, Jeff's preferences can be represented by u(x₁, x₂) = x² + ax². Jeff has 8hours available for watching Netflix today. Each episode of Show 1 lasts 30 minutes, while each episode of Show 2 lasts one 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)

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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)

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)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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 8
hours available for watching Netflix today. Each episode of Show 1 lasts 30 minutes, while each episode of Show 2 lasts one 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)

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