Izaak likes to eat pizza and to fish. the more fishing he does the happier he is, up to 8 hours a day. if he fishes longer than 8 hours he gets a sore back and is less happy than if he hadn’t fished at all. for y less than or equal to 8, his utility function is u(x, y) = x + 3y, where x is money spent on pizza and y is hours per day spent fishing. his income is $40 a day and he has no expenses other than pizza. the bureau of fisheries has just decided to allow people without fishing licenses to fish only 3 hours a day. but if you buy a fishing license, you can fish as many hours as you wish. how much is izaak willing pay for a license?