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I need a simple graph using excel to illustrate an indifference curve. Please include the excel...

I need a simple graph using excel to illustrate an indifference curve. Please include the excel table and graph. Thank you.

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Answer #1

Take the utility function U = XY. You can also take U = (XY)^0.5. For this part we take U = 100, 200 and 300. This gives us three equations, Y = 100/X, Y = 200/X and Y = 300/X for a utility of 100, 200 and 300 respectively.

In column A, write the values of X, starting from at least 1.

In column B, use the function Y = 100/X where X are the values in column A. This shows the values of Y for which the indifference curve U = 100 is drawn.

In column C, use the function Y = 200/X where X are the values in column A. This shows the values of Y for which the indifference curve U = 200 is drawn.

In column D, use the function Y = 300/X where X are the values in column A. This shows the values of Y for which the indifference curve U = 300 is drawn.

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