Prove that, under the assumption of diminishing marginal utility, the linear indifference curves in utility space in
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Prove that, under the assumption of diminishing marginal utility, the linear indifference curves in utility space in Figure 3.1 map into indifference curves that are convex from below in commodity space, as illustrated in Figure 3.2.
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Natural Resource And Environmental Economics
ISBN: 9780273655596
3rd Edition
Authors: Roger Perman, Yue Ma, Michael Common, David Maddison, James Mcgilvray
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