Draw Indifference curves to represent each of the following preferences in parts (a), (b) & (c) below. Use an arrow to mark the direction of increasing utility. (a) John feels happy eating Cornflakes (x O axis), but neither likes nor dislikes Apples (y axis). (b) Sarah likes both Oreos (x-axis) and Wafers (y-axis), and always gets the same additional satisfaction from two packs of Oreos as she does from three packs of Wafers (c) Jane loves going to the movies (x axis) O but hates going to basketball games (y axis)

Draw Indifference curves to represent each of the following preferences in parts (a), (b) & (c) below. Use an arrow to mark the direction of increasing utility. (a) John feels happy eating Cornflakes (x O axis), but neither likes nor dislikes Apples (y axis). (b) Sarah likes both Oreos (x-axis) and Wafers (y-axis), and always gets the same additional satisfaction from two packs of Oreos as she does from three packs of Wafers (c) Jane loves going to the movies (x axis) O but hates going to basketball games (y axis)

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter6: Consumer Choice Theory

Section6.A: Indifference Curve Analysis

Problem 11SQ

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