Find the utility maximizing point for such a function

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Reference no: EM13831320

Consider the utility function U = min(6x, 4y)

a) Draw the indifference curve for U = 48. Label at least 2 specific points

b) Explain why the general method for finding the utility maximizing quantity of inputs will not work for this utility. Be specific about the missing condition on preferences that causes this problem. How do you find the utility maximizing point for such a function?

Reference no: EM13831320

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