Suppose that a lifetime utility function is given by the equation

U
=
c
1
0.75
c
2
0.25

Match the combinations of
(
c
1
,
c
2
)
on the left-hand side with combination on the right-hand side that produce (approximately) the same level of utility.

Group of answer choices
(100, 50)

(80, 80)

(50, 300)

(110, 45)

based on the lifetime utility function and the combinations given, the correct match for the combinations with the same level of utility is:

(100, 50) = (79.37, 100)
(80, 80) = (90, 56.19)
(50,300) = (120, 21.7)
(110, 45) = (53.1, 400)

which functions give the same utility?

first, find the utilities on the left side:

U(100, 50) = (100 ⁰.⁷⁵ x 50⁰.²⁵) = 84.09

U(80, 80) = (80 ⁰.⁷⁵ x 80⁰.²⁵) = 80

U(50, 300) = (50 ⁰.⁷⁵ x 300⁰.²⁵) = 78.25

U(110, 45) = (110 ⁰.⁷⁵ x 45⁰.²⁵) = 87.97

the utilities on the right:

U(79.37, 100) = (79.37 ⁰.⁷⁵ x 100⁰.²⁵) = 84.09

U(90, 56.19) = (90⁰.⁷⁵ x 56.19⁰.²⁵) = 80

U(120, 21.7) = (120 ⁰.⁷⁵ x 21.7⁰.²⁵) = 78.25

U(53.1, 400) = (53.1 ⁰.⁷⁵ x 400⁰.²⁵) = 87.97

the correct matching would be:

(100, 50) = (79.37, 100)
(80, 80) = (90, 56.19)
(50,300) = (120, 21.7)
(110, 45) = (53.1, 400)

find out more on utility functions at https://brainly.com/question/21326461.

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