Question: Sam's preferences are represented by the utility function: U(x,y) = min(4x, 2y^1/2) Are any of the two goods in his utility function essential? Draw Sam's

Sam's preferences are represented by the utility function:

U(x,y) = min(4x, 2y^1/2)

  1. Are any of the two goods in his utility function "essential"?
  2. Draw Sam's indifference curve for the utility of 8 and the utility of 16

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