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As you may recall Nancy Lerner is taking Professor Stern’s economics course She will take two examinations in the course and her score for the course is the minimum of the scores that she gets on

As you may recall, Nancy Lerner is taking Professor Stern’s economics course. She will take two examinations in the course, and her score for the course is the minimum of the scores that she gets on the two exams. Nancy wants to get the highest possible score for the course. Write a utility function that represents Nancy’s preferences over alternative combinations of test scores x1 and x2 on tests 1 and 2 respectively. U(x1, x2) = __________.

May 01 2020 View more View Less

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