Indifference Curves{{ params.hasOwnProperty('selectedUtility') ? ': ' + model.utility.title : '' }}

utility parameters

a = {{ params.a }}

b = {{ params.b }}

r = {{model.utility.r | number: 2}}:

u(x,y) = x^ay^b || =x^{ {{ params.a }} }y^{ {{ params.b }} }

u(x,y) = \min \left\{ \frac{x}{a}, \frac{y}{b} \right\} || = \min \left\{ \frac{x}{ {{ params.a }} }, \frac{y}{ {{ params.b }} } \right\}

u(x,y) = ax + by || = {{ params.a }}x + {{ params.b }}y

u(x,y) = (ax^r + by^r)^{1/r} || = ({{ params.a }}x^{ {{ model.utility.r | number:2 }} } + {{ params.b }}y^{ {{ model.utility.r | number:2 }} })^{ {{ 1/model.utility.r | number: 2 }} }

u(x,y) = \frac{a}{a+b}\ln x + \frac{b}{a+b}y || = {{ params.a/(params.a + params.b) | number:2 }}\ln x + {{ params.b/(params.a + params.b) | number:2 }}y

u({{ params.x }},{{ params.y }}) = {{ model.utility.utility({x: params.x, y: params.y}) | number:2 }}

MRS line indifference curve map preferred set dispreferred set