Example
Alice loves chocolate (X) and strawberries (Y). Her utility is
$$u \left( X, Y \right) = X \times Y$$If Alice has 2 chocolates and 1 strawberry, she gets utility
$$u \left( 2, 1 \right) = 2 \times 1 = 2$$Question
Alice loves chocolate (X) and strawberries (Y).
Her utility function is `u (X, Y) = XY^3`.
What is her utility for 10 chocolate and 5 strawberries?
For 10 chocolate and 5 strawberries, Alice's utility is
$$ u \left( 10, 5 \right) = 10\times5^3 = 1250 $$