Denise has utility over consumption c and leisure l defined by the following function: U(c, l) =

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Denise has utility over consumption c and leisure l defined by the following function:

U(c, l) = c + l

a) Suppose Denise has two units of consumption and three units of leisure. What is her utility?

b) Suppose Denise has four units of consumption and one unit of leisure. What is her utility?

c) Graph her indifference curves. Draw at least three separate indifference curves, for U = {2, 4, 6}. Label your axes accordingly.

Related Book For answer-question

Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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Posted Date: Feb 20, 2024 04:20 AM

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Denise has utility over consumption c and leisure l defined by the following function: U(c, l) =

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Answer a Utility at C 2 and L 3 is U 2 3 5 units bUtilit... View the full answer

Microeconomics An Intuitive Approach with Calculus

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