6. Draw indifference curves for two goods and y, where y is a "bad" good. Specify each axis, show the direction utility is increasing using an arrow, explain the meaning of a bad good, and provide an example of a bad good. (ch. 5).

Economics For Today
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ISBN:9781337613040
Author:Tucker
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Chapter6: Consumer Choice Theory
Section6.A: Indifference Curve Analysis
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(ch. 5).
6. Draw indifference curves for two goods x and y, where y is a "bad” good. Specify
each axis, show the direction utility is increasing using an arrow, explain the meaning
of a bad good, and provide an example of a bad good. (ch. 5).
Transcribed Image Text:(ch. 5). 6. Draw indifference curves for two goods x and y, where y is a "bad” good. Specify each axis, show the direction utility is increasing using an arrow, explain the meaning of a bad good, and provide an example of a bad good. (ch. 5).
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