A user has the utility function U(x1,x2)=min{x1,2x2}, and his endowment is W=(0,12)How do you draw...

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A user has the utility function U(x1,x2)=min{x1,2x2}, and his endowment is W=(0,12)How do you draw the indifference curve and how do you find MRS for this user.

Robert · Accepted Answer

A user has the utility function U(x1,x2)=min{x1,2x2}, and his endowment is W=(0,12)
How do you draw the indifference curve and how do you find MRS for this user.
This function represents complementary goods so that consumption occurs only at points where x1= 2x2.

A user has the utility function U(x1,x2)=min{x1,2x2}, and his endowment is W=(0,12) How do you draw the indifference curve and how do you find MRS for this user.

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