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Business, 17.11.2021 15:30 ueuwuwj

Linus has the utility function U(x, y)= x+3y. a. On a graph with the vertical axis for y and the horizontal axis for x,
use blue ink to draw the indifference curve passing through the
point(x, y) = (3,3). Use black ink to sketch the indifference curve
connecting bundles that give Linus a utility of 6.
b. On the same graph, use red ink to draw Linus’s budget line if the
price of x is 1 and the price of y is 2 and his income is 8. What
bundle does Linus choose in this situation?
c. What bundle would Linus choose if the price of x is 1, the price of y
is 4, and his income is 8?

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