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QUESTION 14 Figure 5 The following graph shows three possible indifference curves (I) for a consumer. MUFFINS Ш D B 12 CAKE Refer to Figure 5. When comparing bundle C to bundle A, the consumer prefers bundle C because it contains more muffins. ○ is indifferent between the two bundles. prefers bundle A because it contains more cake. ○ In order to compare bundle C to bundle A, we must know the prices of muffins and cake.

QUESTION 14 Figure 5 The following graph shows three possible indifference curves (I) for a consumer. MUFFINS Ш D B 12 CAKE Refer to Figure 5. When comparing bundle C to bundle A, the consumer prefers bundle C because it contains more muffins. ○ is indifferent between the two bundles. prefers bundle A because it contains more cake. ○ In order to compare bundle C to bundle A, we must know the prices of muffins and cake.

Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter3: Preferences And Utility
Section: Chapter Questions
Problem 3.1P
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QUESTION 14 Figure 5 The following graph shows three possible indifference curves (I) for a consumer. MUFFINS E B 0 D 12 CAKE Refer to Figure 5. When comparing bundle C to bundle A, the consumer prefers bundle C because it contains more muffins. is indifferent between the two bundles. prefers bundle A because it contains more cake. In order to compare bundle C to bundle A, we must know the prices of muffins and cake.
Transcribed Image Text:QUESTION 14 Figure 5 The following graph shows three possible indifference curves (I) for a consumer. MUFFINS E B 0 D 12 CAKE Refer to Figure 5. When comparing bundle C to bundle A, the consumer prefers bundle C because it contains more muffins. is indifferent between the two bundles. prefers bundle A because it contains more cake. In order to compare bundle C to bundle A, we must know the prices of muffins and cake.
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