Victor Finick likes to have the same amount of x as he has of y.His utility function is U(x, y)= min{2x- y, 2y- x}.
a.Draw the indifference curve for Victor that passes through the bundle (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 better than (0, 0)and his consumption of both goods is doubled, is Victor better off?
c.Does Victor always prefer more of either good to less?

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The Answer of Victor Finick likes to have the same amount of x as he has of y.His utility function is U(x, y)= min{2x- y, 2y- x}.
a.Draw the indifference curve for Victor that passes through the bundle (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 better than (0, 0)and his consumption of both goods is doubled, is Victor better off?
c.Does Victor always prefer more of either good to less?

Victor Finick Likes to Have the Same Amount of X