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Economics

The following utility function is equal to the maximum of the amount of good x or four time the amount of good y:

U(x,y) = max{x,4y}

(a) Draw the indifference curve for this utility function.

(b) Find the Marshallian demand and indirect utility function.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91230667

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