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Function for the same two goods

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1. Tim has preferences represented by the utility function U(x,y) = min{ 6x+ y,x+ 2y}. If xis on the horizontal axis and yis on the vertical axis, what is the slope of his indifference curve at the point (8, 9)?

2. Doreen has preferences represented by the utility function U(x,y) = 10x + 5y. She consumes 10 units of good xand 9 units of good y. If her consumption of good xis lowered to 1, how many units of ymust she have in order to be exactly as well off as before?

3. Ike's utility function is U(x, y) = 25xy. He has 12 units of good xand 8 units of good y. Ben's utility function for the same two goods is U(x, y) = 4x+ 4y. Ben has 9 units ofxand 13 units of y.

Reference no: EM132373459

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