Toby is indifferent between the bundles 9 3 and 5 5 when, Ask an Expert

Economics

Toby is indifferent between the bundles (9, 3) and (5, 5). When Toby is at (9, 3), he would be willing to give up one unit of y if he were to receive two units of x. If Toby is at (5, 5), he would be willing to give up four units of x if he were to receive two units of y.

Give two possible utility functions for Toby for goods x and y. Hint: draw a graph.

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Business Economics, Economics

Category:- Business Economics
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