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Question: jennys preferences over icecream and soda are specified...

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Jenny’s preferences over ice-cream π‘₯ and soda (𝑦) are specified by the following utility function: π‘ˆ = 5π‘₯ + 2𝑦. Find what is MRSx,y and what kind of products are x and y? Please draw a graph to show? If the utility function will be specified by a different relationship π‘ˆ = 𝑀𝑖𝑛{1 π‘₯, 2𝑦} can 2 you find MRSx,y and draw the indifference curves? In either situation are x and y economic good or economic bad?

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