Question
Marie Curie has a utility function u(x, y) = max{x, 2y}. (a) Draw a graph, plotting the indifference curve along which u(x, y) = 10.
Marie Curie has a utility function u(x, y) = max{x, 2y}.
(a) Draw a graph, plotting the indifference curve along which u(x, y) = 10.
(b) Are Marie's preferences convex?
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Managerial Economics Applications, Strategies and Tactics
Authors: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
13th edition
1285420926, 978-1285962399, 978-1285947853, 1285947851, 978-1285420929
