Consider the utility function uxyxy graph the indifference, Business Economics

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Consider the utility function uxyxy graph the indifference

Consider the utility function u(x,y)=xy

A) Graph the indifference curves for utility levels 1 and 2. (They are symmetric hyperbolas asymptotic to both axes.)

B) Graph the locus of points for which the MRS of good 2 for good 1 is equal to 1, and the locus of points for which the MRS is equal to 2.

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Business Economics: Consider the utility function uxyxy graph the indifference

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