A person's preferences for two goods, consumption (c) and free time (t), can be described by the utility function U(c, t) = c × t. To find the specific combination of goods that gives this person a utility level of 200, one must derive the equation for the corresponding indifference curve. Which of the following equations correctly represents this indifference curve, expressing consumption as a function of free time?

Deriving an Indifference Curve Equation

Graphing Consumer Preferences

Consider an individual whose preferences for consumption (c) and free time (t) are represented by the utility function U(c, t) = c × t. A bundle consisting of 10 units of consumption and 14 units of free time would be a point on the indifference curve that corresponds to a total utility level of 144.

You are given a utility function that describes a person's preferences for two goods. Arrange the following steps in the correct chronological order to graphically represent the indifference curve for a specific level of utility.

Match each utility function, which describes a person's preferences for two goods (x and y), to the general shape of the indifference curve it would produce when plotted.

A consumer's preferences for two goods, Apples (A) and Bananas (B), are described by the utility function U(A, B) = A * B. To achieve a constant utility level of 150, if this consumer has 10 units of Apples, they must have ____ units of Bananas.

Critique of an Indifference Curve Plot

Bundle Preference Analysis

An economist is mapping out a consumer's indifference curve for a utility level of 10, based on the utility function U(x, y) = √x + y. The economist has calculated several bundles of goods (x, y) that should lie on this curve. Which of the following bundles has been calculated incorrectly and does NOT lie on the indifference curve for a utility level of 10?