Micro doubt

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[Asd1995]

A dot (0,0)

[Halflife]

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[Asd1995]

What's a bliss point?

Oh. Correction. ICs are circles centered at (0,0) with radius equal to the square root of the negative of the utility corresponding to that IC.

Sorry I just woke up :P

[ElPsyCongroo]

-MUx/MUy is still the slope of the IC curve.

So that's -(-2x/-2y)=-x/y

if U is const -x^2-y^2=C

x^2+y^2=-C

At first it seems like this should not be possible, (since x^2+y^2>0) but C is not necessarily positive, so the ICs still look like circle with radius = root(-C)

And of course, higher ICs give lower utilities than lower ones, as opposed to what one might expect.

Is this a question you got at IGIDR HalfLife?

[ElPsyCongroo]

Sorry I meant MUx/MUy is still the slope of the IC curve.

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[Econ17]

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