Solution-Draw the indifference curve that goes through that

Draw the indifference curve that goes through that bundle

Reference no: EM131211776

For each of the following situations, use a graph to indicate the given bundle and accurately draw the indifference curve that goes through that bundle. Be sure to label you graph carefully and accurately. In all cases put the amount of good X on the horizontal axis, and the amount of good Y on the vertical axis.

a) The consumers utility function is given by U(X,Y) = X²*Y, and the given bundle is X = 2 and Y = 4.

b) The consumers utility function is given by U(X,Y) = MIN(X, 4Y), and the given bundle is X = 2 and Y = 1.

c) The consumers utility function is given by U(X,Y) = 4X + 2Y and the given bundle is X = 2 and Y = 6.

Reference no: EM131211776

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Draw the indifference curve that goes through that bundle

Reference no: EM131211776

Reference no: EM131211776

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