 Solution

The contour plot is symmetric under either $x\mapsto -x$ or $y\mapsto -y$, because $f$ depends only on their squares. Denote the three critical heights by $m=\frac{7}{2}\ln 3$, $h=\frac{1}{4}+\frac{7}{2}\ln (7/2)$ and $M=1+\frac{7}{2}\ln 3$, where $m<h<M$.

For $m<c<h$, the level set $f=c$ consists of separate closed curves around the two minima. At $c=h$ the branches meet at the two saddle points. For $h<c<M$, there is an inner closed curve surrounding the local maximum and an outer closed curve surrounding all five stationary points. At $c=M$ the inner curve shrinks to the origin; for $c>M$ only the outer closed curve remains. At each saddle point the critical level set crosses in the two directions determined byThe figure plots representative level sets, including the critical saddle height; its second panel adds the gradient directions requested below.