Substitute the bundles (3,1), (2,1), (1,1), (1,2) and (1,3) into utility function (5.3) and verify that each
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Substitute the bundles (3,1), (2,1), (1,1), (1,2) and (1,3) into utility function (5.3) and verify that each is shown to give the same utility, thus lying on the same indifference curve as plotted in Graph 5.2. What numerical labels does this indifference curve attach to each of the three indifference curves in Graph 5.2?
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Related Book For
Intermediate Microeconomics: An Intuitive Approach With Calculus
ISBN: 116465
1st Edition
Authors: Thomas Nechyba
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