Draw the indifference curve diagrams for the utility functions listed below. Plot x on the horizontal axis and y on the vertical axis. On each diagram, draw at least two indifference curves and show with an arrow in which direction utility is increasing. a. u x-2y b. u= min(4x, 4y) c. u = xy d. u= x^2+y^2
Draw the indifference curve diagrams for the utility functions listed below. Plot x on the horizontal axis and y on the vertical axis. On each diagram, draw at least two indifference curves and show with an arrow in which direction utility is increasing. a. u x-2y b. u= min(4x, 4y) c. u = xy d. u= x^2+y^2
Chapter3: Preferences And Utility
Section: Chapter Questions
Problem 3.1P
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![Draw the indifference curve diagrams for the utility functions listed below. Plot x on the horizontal axis and y on the
vertical axis. On each diagram, draw at least two indifference curves and show with an arrow in which direction utility is
increasing. a. u =x-2y b. u = min(4x, 4y) c. u = xyd. u = x^2 + y^2](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fed88f213-d06f-47ce-ad10-e123d923bc1d%2F539fc62b-a798-453b-bff1-0f127b041070%2F22ywibh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Draw the indifference curve diagrams for the utility functions listed below. Plot x on the horizontal axis and y on the
vertical axis. On each diagram, draw at least two indifference curves and show with an arrow in which direction utility is
increasing. a. u =x-2y b. u = min(4x, 4y) c. u = xyd. u = x^2 + y^2
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