Question: Model the following situations exactly using binary/integer variables and linear constraints: 1. Suppose a consumer derives UA units of utility from product A and UB
Model the following situations exactly using binary/integer variables and linear constraints: 1. Suppose a consumer derives UA units of utility from product A and UB units from product B. Further suppose UA 6= UB and UA > 0 and UB > 0. Model the following consumer choice constraint using binary variables: If both products are shown (presented) to the consumer, the consumer will not choose the product with lower utility (notice that the consumer may choose none of the products.)
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