Question: [2 points]Given the utility function: U(x,y) = min{4x, 1/2y}, graph three indifference curves for utility level U=4, U=8 and U=16. Make sure all relevant information

  1. [2 points]Given the utility function: U(x,y) = min{4x, 1/2y}, graph three indifference curves for utility level

U=4, U=8 and U=16. Make sure all relevant information if on the graph.

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