|Question||Julie and Toni consume two goods with the following utility functions:
UJulie = (x + y)2, MUJuliex = 2(x + y), MUJuliey = 2(x + y)
UToni = x + y, MUTonix = 1, MUToniy = 1
a) Graph an indifference curve for each of these utility functions.
b) Julie and Toni will have the same ordinal ranking of different baskets if, when basket A is preferred to basket B by one of the functions, it is also preferred by the other. Do Julie and Toni have the same ordinal ranking of different baskets of x and y? Explain.