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Suppose a consumer views two goods as perfect complements so that her utility function is given by U = min(X,3Y). The price of X is
Suppose a consumer views two goods as perfect complements so that her utility function is given by U = min(X,3Y). The price of X is PX = 2, and the price on is Py = 9. What is the slope of the Engel curve for good X? You will be asked to sketch a graph of this Engel curve in the next question, but for this question, just indicate the slope of the Engel curve for good X below. (Think carefully about which variable is on the horizontal axis and which variable is on the vertical axis for an Engel curve.) The slope of the Engel curve for good X is: Based on the consumer's utility function and the prices of good X and Y from the previous question, sketch the graph of the consumer's Engel curve for good X. Be sure to label your graph carefully
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