Can someone help me plot the indifference curve for the following utility function when U = 1
U(x,y) = 0.5(x+y) + 0.5min{x,y}
How does this equation simplify when U = 1?
I'm trying to determine if preferences are convex.
Can someone help me plot the indifference curve for the following utility function when U = 1
U(x,y) = 0.5(x+y) + 0.5min{x,y}
How does this equation simplify when U = 1?
I'm trying to determine if preferences are convex.