How would I answer this question? John is an altruistic person who cares about his own income as well as the income of his best friend Ryan. The value he attaches to each unit of his own income is the same as the value of 3 units of Ryan’s income. For example, he is indifferent between a situation where his income is 1 and Ryan’s is 0 and one where his income is 0 and Ryan’s is 3. How would John rank the following outcomes (2, 10), (3, 10), (5, 7) and (5, 20), where the first component is John’s income and the second is Ryan’s? Provide a utility function consistent with these preferences.
Thanks in advance.