Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

curve

/in /by

Question

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.

 
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"