Question: (20 points) Jane is considering purchasing a house. She has narrowed her choices to three different ones: The first house is 2000 square feet, has

(20 points) Jane is considering purchasing a house. She has narrowed her choices to three different ones: The first house is 2000 square feet, has two bathrooms, and is located in the district ranked second in the city among school districts. Its purchase price is $120,000. The second house is 1700 square feet, has one bathroom, and its district is ranked first in the city among school districts. Its purchase price is $100,000. The third house is 2500 square feet, has three bathrooms, and is located in the district ranked third in the city among school districts. Its purchase price is $170,000. a. Derive Janes utilities for square feet, number of bathrooms, school district rankings, number of bathrooms, and purchase price. (10 points) b. If square feet, number of bathrooms, school district rankings, number of bathrooms, and purchase price are considered equally important, which house should Jane choose? (5 points) c. Jane has no children, so school district has no utility for her. She also values cost three times as much as both number of bathrooms or square feet. Which house should she choose? (5 points)

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