Question: Suppose a consumer's preferences can be represented by the utility function = ( + 2, 2 + ). a. Draw the indifference curve that has

Suppose a consumer's preferences can be represented by the utility function = ( + 2, 2 + ).

a. Draw the indifference curve that has U = 12. Be sure to specify the bundles at any intercepts or kinks.

b. Draw a typical demand curve for good x for this consumer. (If you want, you can choose numbers for income M and price of good y py). The graph does not have to be to scale - just a rough outline will suffice.

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