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Roger's Utility Function Is U = Min{a1, A2} Min{b1, B2}

question 26

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Roger's utility function is U = min{a1, a2} min{b1, b2}, where a1 and a2 are the number of piano lessons he consumes this year and next and b1 and b2 are the number of ice skating lessons he consumes this year and next.The price of piano lessons is $10 each and the price of ice skating lessons is $4 each.The prices won't change, but the interest rate is 7%.If Roger consumes 20 piano lessons this year, how many ice-skating lessons will he consume next year?

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Definitions:

Supervisor

An individual who oversees and manages the work of others, typically ensuring that tasks are completed efficiently and effectively.

Scaled Behaviors

Behaviors that vary in magnitude or intensity, often measured according to a scale or gradation relative to stimuli or environmental changes.

Organizational Psychologist

A specialist in psychology who applies psychological theories and principles to workplace issues, focusing on improving productivity, work-life balance, and employee well-being.

Employee Motivation

The degree of enthusiasm, dedication, and innovation that employees of a company contribute to their roles.

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