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Business, 28.01.2020 06:31 coollid876
For each of the following functions, i) pick three utility levels and draw the precise indifference curves that are associated with the levels of your choice, ii) label the utility level of the lines -- you cannot just draw random lines and assign arbitrary utility levels, and iii) give the name of preferences they represent (hint: see figures in textbook chapter 3). u(x1,x2)=x1+2x2 u(x1,x2)=min(x1,x2) u(x1,x2)=x1 u(x1,x2)=x1−x2 u(x1,x2)=x1x2√ u(x1,x2)=−{(x1−3)2+(x2−2)2}
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