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) = X^2Y^2`.
What is her utility for 5 chocolate and 8 strawberries?
For 5 chocolate and 8 strawberries, Alice's utility is
$$ u \left( 5, 8 \right) = 5^2\times8^2 = 1600 $$