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Q4. Consider the following utility function: UGLY )22 X | Y (a) Draw indifference curves to represent this utility function. (1)) Do the preferences represented

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Q4. Consider the following utility function: UGLY )22 X | Y (a) Draw indifference curves to represent this utility function. (1)) Do the preferences represented by this utility function satisfy (strict) monotonicity and (strict) convexity? (c) Calculate the marginal rate of substitution of Y for X

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