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Write down the equation of a utility function and construct an indifference map that corresponds to each of the following cases. a) (10 points) Carol
Write down the equation of a utility function and construct an indifference map that
corresponds to each of the following cases.
a) (10 points) Carol is always willing to give up 2 pizzas in exchange for 1 additional beer
no matter how many pizzas and beers she has in her consumption bundle.
b) (10 points) Kathy loves pizza and is neutral toward beer (i.e., she neither likes nor
dislikes beer). She derives 4 units of satisfaction from each pizza she consumes.
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