Question
I have been always struggling to understand the concept of the graphs with the marginal utitliity of two goods. where mu means marginal utility eg
I have been always struggling to understand the concept of the graphs with the marginal utitliity of two goods. where mu means marginal utility
eg
1) goods with increasing marginal utility, good with increasing mu
2) good with increasing mu, goods with constant mu
3) goods with increasing mu, goods with decreasing mu
4) goods with constant mu and goods with constant mu
5) goods with decreasing mu and good with decreasing mu
'then how would the graphs looks like for the goods with mu changed into marginal disutility?
then
1) a good and a bad,
2) a bad and a bad
3) a good and a good
what will their indifference curves looks like? please explain and label the graphs clearly and clear presentations, thank you!
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