(F), the quantity of… Show more Robinson Cruse obtains utility from the quantity of fish he consumes in one day (F), the quantity of coconuts he consumes that day ( C), and the hours of leisure time he has during the day (H) according to the utility function: Utility = U(F, C, H) = (F^1/4)(C^1/4)(H^1/2) . Robinson%u2019s production of fish is given by F = sqrt(LF), where LF is the hours he spends fishing; and his production of coconuts is determined by F = sqrt(LC), where LC is the hours he spends picking coconuts. Assume that Robinson decides to work an eight-hour day (i.e., H = 16), graph his production possibility frontier for fish and coconuts. Show his optimal choices of those goods. Hint: By the symmetry between F and C, his optimal choices must be equal • Show less