Utility is given as ux y minxy a graph a typical


Utility is given as: U(x, y) = min(x,y) (a) Graph a typical indifference curve for this function. (Hint: Choose a level of utility and draw various combinations of x, y that result in that level) (b) Give examples of goods that are well represented by this model. PLEASE include steps!

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Business Economics: Utility is given as ux y minxy a graph a typical
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