Answer to Question #95000 in Microeconomics for Musa Usman

Question

Suppose Family A’s energy consumption at home consists of electricity (
xkWh) and gas (ykWh). The family are indifferent between a consumption bundle (10, 10) and any bundle (x,y) such that y=100/x. Also, they have monotonic preferences.
On a graph, plot several points that lie on the indifference curve that passes through the bundle (10, 10), and sketch this curve.
Shade in the set of bundles to which the family weakly prefer (10,10).

Answer 1

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