Question: Graph a typical indifference curve for the following utility functions and determine whether they have convex indifference curves (that is, whether the MRS declines as
Graph a typical indifference curve for the following utility functions and determine whether they have convex indifference curves (that is, whether the MRS declines as x increases).
a. U(x, y) 3x+y.
b. U(x,y)=xy.
c. U(x,y)=x+y.
d. U(x,y) x2 y2.
c. U(x,y) = x+y
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