2. INDIFFERENCE MAPS Sheldo19 For each scenario, GRAPH two indifference curves U1 and U2 (U1 < U2) to represent the following consumers' preferences for goods X and Y. a. Andy insists on consuming exactly two units of X for each unit of Y. Y 2 un its X 2. DIZza b. Billy always gets twice as much satisfaction from an extra unit of Y as he gets from an extra unit of X. Y MRS=½

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I am unsure the direction the utility functions would go in , with this specific scenario
2. INDIFFERENCE MAPSeldo19
For each scenario, GRAPH two indifference curves U1 and U2 (U1 < U2) to represent the
following consumers' preferences for goods X and Y.
a. Andy insists on consuming exactly two units of X for each unit of Y.
2 un its X
for lY
DIZza
b. Billy always gets twice as much satisfaction from an extra unit of Y as he gets
from an extra unit of X.
Y
MRS=2
Transcribed Image Text:2. INDIFFERENCE MAPSeldo19 For each scenario, GRAPH two indifference curves U1 and U2 (U1 < U2) to represent the following consumers' preferences for goods X and Y. a. Andy insists on consuming exactly two units of X for each unit of Y. 2 un its X for lY DIZza b. Billy always gets twice as much satisfaction from an extra unit of Y as he gets from an extra unit of X. Y MRS=2
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