Question:1) Alex has preferences represented by the utility function
U(x, y) = 10x + 5y
. She consumes 10 units of good x and 9 units of good y.
a.
Graph her indifference curve and indicate where this bundle would be on that indifference curve.
b.
If her consumption of good x is lowered to 1, calculate how many units of y she must have in order to be exactly as well off as before.
c.
Suppose her utility function was U(x, y) = 10x5y.
Does your answer to 2b change or remain the
same? Explain why.
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