Question
Leah is in the market for a digital instant print camera. Three brands (Polaroid, Kodak, and Fujifilm) are available. A linear utility function represents her
Leah is in the market for a digital instant print camera. Three brands (Polaroid, Kodak, and Fujifilm) are available. A linear utility function represents her preference for a digital instant print camera. Three attributes are relevant to her decision (price, durability, and built-in battery life). On a 1-7 scale (7 being the most expensive for price, and 7 being the best for the other two attributes), the levels for each brand is:
Polaroid (Price = 4, Durability = 5, Battery life = 2)
Kodak (Price = 2, Durability =3, Battery life = 3)
Fujifilm (Price = 3, Durability = 4, Battery life = 4)
She feels durability is twice as important as either price or battery life. She also thinks price and battery life are equally important. What is Leah's choice?
a.Polaroid
b.
Fujifilm
c.
Kodak
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started