Victor Finick likes to have the same amount of x as he has of y.The utility function
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Victor Finick likes to have the same amount of x as he has of y. The utility function of it is U(x, y) = min {2x− y, 2y− x}.
to. Draw Victor's indifference curve that passes through the basket (0, 0) and the indifference curve that passes through (4, 4). (Hint: Each indifference curve is the intersection of two line segments.)
b. If Victor has a bundle that he likes more than (0, 0) and his consumption of both goods doubles, is Victor better off?
C. Does Victor always prefer more of either good to less?
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