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2. Suppose an individual's preference ordering can be represented by the following utility function: u(x1,x2) = min (x1,x2). (a) Sketch a few (two or three)

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2. Suppose an individual's preference ordering can be represented by the following utility function: u(x1,x2) = min (x1,x2). (a) Sketch a few (two or three) indifference curves for the individual. (Hint: the indifference curves should be "L-shaped".) (b) Suppose currently prices are p = (p1,p2) and her income is I. Would she be better off if the price of good two is halved so that p = (p1, 2) or if her income is doubled to 2/? Explain using carefully labeled graphs

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