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#7. A consumer's utility function is given by U = XY. where MU x = Y and MUY = X a. What is the utility
#7. A consumer's utility function is given by U = XY. where MU x = Y and MUY = X a. What is the utility derived from 1 unit of X and 2 units of Y? What is the utility derived from 2 units of X and 1 unit of Y? What is the utility derived from 5 units of X and 2 units of Y? b. How does the consumer rank the following bundles? Bundle Quantity of X Quantity of Y 2 2 B 10 0 C 1 5 D 3 2 E 2 w c. Graph an indifference curve that shows the bundles of X and Y for which U = 6. Then graph a second indifference curve for bundles of X and Y for which U = 8. Is the "more is better" assumption satisfied for X and Y
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