Questions tagged [perfect-complements]

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Do perfect complements have to be normal goods? If so, why?

Two goods $x,y$ are perfect complements if they have the utility function $$U(x,y) = \min \lbrace ax,by \rbrace$$ $$a,b \in \Bbb{Q}^+$$ My professor said $x,y$ have to be normal goods but didn't ...
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Perfect complement preferences in an exchange economy

So I have an exam in a bit, I understand that to find the optimal choice you have to equate tangent of the two indifference curves. However, if the other indifference curve is a perfect complement, ...
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Homogeneity of compensated demand for Leontief (perfect complements) function

In my assignment I have a Leontief (perfect complements) function u(x,y)=min(x,2y). Keeping utility fixed, we minimize the expenditure. Since we have a Leontief function, at a fixed level of utility u(...
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Perfect complement graph and isoquant

$f(x_1,x_2) = min \{x_1,x_2\} + x_2$ if that was the production, what would the isoquant be? Would it simply follow $x_1 = x_2$? I'm not entirely sure what it the graph would look like.
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Optimal consumtion bundle of lemons and sugar [closed]

Alex consumes only lemons and sugar. For each lemon he requires exactly 2 spoons of sugar. He doesn't like more sugar on his lemons, and he won't eat lemons with less sugar. What is Alex's optimal ...
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Unusual perfect complements utility function min{ax+y, x+2y} [closed]

What's the graph for this utility function? How can it be represented graphically? Is this function perfect complements? I do not fully understand that in the question attached in the picture, the ...
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utility functions of perfect complements

if preferences are described and in this case the preferences are perfect complements, we want to find an utility function that describes the preferences so we can draw an indifference curve. the ...