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Hatfield and McCoy Burn with Hatred for Each Other

question 13

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Hatfield and McCoy burn with hatred for each other.They both consume corn whisky.Hatfield's utility function is U = WH - W 2M /8 and McCoy's utility is U = WM - W 2H /8, where WH is Hatfield's whisky consumption and WM is McCoy's whisky consumption, measured in gallons.The sheriff has a total of 48 gallons of confiscated whisky which he could give back to them.For some reason, the sheriff wants them both to be as happy as possible and he wants to treat them equally.The sheriff should give them each

Understand and perform the reduction of products to their lowest terms.
Understand and perform computations involving mixed numbers and improper fractions.
Calculate differences between estimated and actual quantities.
Analyze and compute the total quantities combining different fractions.

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Introduction

The initial section of a document or speech that sets the topic, provides background information, and outlines the purpose or thesis.

Summary

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Essential Message

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