Lesson 2 Preferences and Utility

Lesson 2. Preferences and Utility 5 x 1 y 2 Good 2 y Good 1 x 2 Fig. 2.1 Y X Indifference Curve Caption for Fig. 2.1: At bundle X, the consumer is consuming x1 units of good 1 and x2 units of good 2. Similarly at bundle Y, she is consuming y1 units of good 1 and y2 units of good 2. ................
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