Trump thinks a vote from a traditionally Democratic supporter is just as good as two votes from a traditionally Republican supporter. Clinton thinks a vote from a traditionally Republican voter is no better or worse than a vote from a traditionally Democratic supporter.
(a)Write a utility function that represents Trumpâs preferences between commodity bundles comprised of Democratic votes and Republican votes. Let X stand for the number of Democratic votes and Y stand for the number of Republican votes.
(b)Now write a utility function that represents Clintonâs preferences.
(c)Would the utility function U (X, Y ) = 100X + 200Y represent Trumpâs preferences?
(d)Would the utility function U (X, Y ) = (10X + 5Y )2 represent his preferences?
(e)Would the utility function U (X, Y ) = X + 3Y represent his preferences?
(f)Would Trump rather have one Republican vote and no Democratic votes, or have no Republican votes and one Democratic vote?
Trump thinks a vote from a traditionally Democratic supporter is just as good as two votes from a traditionally Republican supporter. Clinton thinks a vote from a traditionally Republican voter is no better or worse than a vote from a traditionally Democratic supporter.
(a)Write a utility function that represents Trumpâs preferences between commodity bundles comprised of Democratic votes and Republican votes. Let X stand for the number of Democratic votes and Y stand for the number of Republican votes.
(b)Now write a utility function that represents Clintonâs preferences.
(c)Would the utility function U (X, Y ) = 100X + 200Y represent Trumpâs preferences?
(d)Would the utility function U (X, Y ) = (10X + 5Y )2 represent his preferences?
(e)Would the utility function U (X, Y ) = X + 3Y represent his preferences?
(f)Would Trump rather have one Republican vote and no Democratic votes, or have no Republican votes and one Democratic vote?
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