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Suppose a consumer has the utility function u(z1,z2) = z1 + z2 (a) in a well labelled diagram, illustrate the indifference curve which yields a
Suppose a consumer has the utility function u(z1,z2) = z1 + z2 (a) in a well labelled diagram, illustrate the indifference curve which yields a utility level of 3.5. (b) if the consumer has income M and faces the prices p1 and p2 for z1 and z2, respectively, derive the demand functions for the two goods. (c) what types of preferences are associated with such a utility function
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