We can represent Howard's utility function with U(x,y) = 16xy. Howard has 7 units of X...

 

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We can represent Howard's utility function with U(x,y) = 16xy. Howard has 7 units of X and 5 units of Y. We can represent Dolly's utility function with U(x,y) = 2x + 2y. Dolly has 8 units of X and 3 units of Y. We can conclude: Howard prefer's Dolly's bundle, and Dolly prefers Dolly's bundle Dolly prefers Howard's bundle, and Howard prefers Howard's bundle. Dolly and Howard both prefer their own bundles. Dolly and Howard both prefer the other character's bundle. We do not have enough information to draw any of these conclusions. We can represent Howard's utility function with U(x,y) = 16xy. Howard has 7 units of X and 5 units of Y. We can represent Dolly's utility function with U(x,y) = 2x + 2y. Dolly has 8 units of X and 3 units of Y. We can conclude: Howard prefer's Dolly's bundle, and Dolly prefers Dolly's bundle Dolly prefers Howard's bundle, and Howard prefers Howard's bundle. Dolly and Howard both prefer their own bundles. Dolly and Howard both prefer the other character's bundle. We do not have enough information to draw any of these conclusions.

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