draw a consumer’s indifference curves for coke and cheese. pick a point on an indifference curve for coke and cheese and show the marginal rate of substitution. what does the marginal rate of substitution tell us? Consumer income is 3000$ and coke cost 3$ per glass and cheese cost 6$ per pound.

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter6: Consumer Choice Theory
Section6.A: Indifference Curve Analysis
Problem 2SQ
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draw a consumer’s indifference curves for coke and cheese. pick a point on an indifference curve for coke and cheese and show the marginal rate of substitution. what does the marginal rate of substitution tell us?

Consumer income is 3000$ and coke cost 3$ per glass and cheese cost 6$ per pound.

 

 

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