16. Given a utility function that represents preference over bundles which consists of two goods. a. Can we draw indifference map(collection of indifference curves)? How about the reverse? (Given the indifference map can we derive a utility function? If given the preference of continuity we can do both. However, if we are not given continuity we cannot draw. 50 I will accept both yes, yes and also yes, no if you say we cannot draw if not given continuity. b. Can we nd some information of the relative cardinal value between two bundles? Explain your answer. No, preference only reveals ranking information between bundles c. Can we nd some information of the relative cardinal value between two goods? Explain your answer. Yes, MRS from indifference. x>y u(x)>u(y) x~y u(x)=u(y) y>x u(y)>u(x)