Economic problem’
Suppose an individual has the following utility function: U(x, y) = −4(x − 5.5)^2 − 2(y − 3.5)^2 Further assume that the price of good x, px = $6, the price of good y, py = $8 and the individual has an income m = $65 a) (5 points) Draw an indifference curve (one IC […]