John and Karen are married, and each has preferences over watching football games (F) and going to the ballet (B). Assume that John cares only about watching football games, and derives no utility from going to the ballet, while Karen has the exact opposite preferences: she cares only about going to the ballet, and derives no utility from watching football games.

Provide a mathematical expression for a utility function U J (qF , qB ) that represents John’s preferences, and a utility function U K (qF , qB ) that represents Karen’s preferences.

Putting qF (the number of football games watched) on the horizontal axis, and qB (the number of ballet performances attended) on the vertical axis, draw indifference curves for both John and Karen (clearly label which is which).

Answer rating: 100% (QA)

Heres a rough sketch of the indifference curves Indifference curves for John UJ Vertical lines exten... View the full answer