Question: step by step explanations, please do try post diagrams where necessary. 05. Consider an individual whose utility function over quantities of X and Y takes
step by step explanations, please do try post diagrams where necessary.

05. Consider an individual whose utility function over quantities of X and Y takes the form: U = 1/(X2Y2) where U is an index of the individual's utility and X and Y are the weekly quantities of the two items consumed (for both items, quantities must be non-negative, so X 2 0 and Y 2 0). i. Are the indifference curves upward sloping or downward sloping? ii. Are the indifference curves concave or convex? iii. ls X a 'good' or a 'bad'? iv. Is Y a 'good' or a 'bad
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