Question:
In the two good case, the level sets of the indirect utility fuction in the price space are sets of the form
{(p1,p2) 'vertical line' v(p1,p2,y) = v0} for when v0 is an element in the set of real numbers
These are sometimes called price-indifference curves. Sketch a possible map of price-indifference curves. Give separate arguments to support your claims as to their slope, curvature, and the direction of increasing utility