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: 9780321417534

4th Edition

Authors: Roger Perman, Yue Ma, Michael Common, David Maddison, James McGilvray

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