Question
Suppose the consumer has preferences that can be represented by the utility function U(x,y) =xy. (a)On a graph draw the indifference curve associated with the
Suppose the consumer has preferences that can be represented by the utility function U(x,y) =xy.
(a)On a graph draw the indifference curve associated with the utility level U1=120.
(b)On the same graph draw an indifference curve associated with the utility level U2=200. (Hint: Please go to Microeconomics by Besanko to help you with the answer to this question)
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
