Many advertising slogans seem to be asserting something about peoples preferences. How would you capture the following
Question:
Many advertising slogans seem to be asserting something about people’s preferences. How would you capture the following fictitious slogans with a mathematical utility function?
a.
Promise margarine is just as good as butter.
b.
c.
d.
e.
3.7 a.
Things go better with Coke.
You can’t eat just one Kettle Fried potato chip.
Mugg and Bean Coffee is just better than Wild Bean coffee.
SABMiller Breweries advises us to drink (beer)
‘responsibly’. [What would ‘irresponsible’
drinking be?]
A consumer is willing to trade 3 units of x for 1 unit of y when she has 6 units of x and 5 units of y. She is also willing to trade in 6 units of x for 2 units of y when she has 12 units of x and 3 units of y.
Step by Step Answer:
Microeconomic Theory Basic Principles And Extensions
ISBN: 9781473729483
1st Edition
Authors: Christopher M Snyder, Walter Nicholson, Robert B Stewart