Your classmate tells you that he is indifferent between three soft drinks and two hamburgers or two soft drinks and three hamburgers - Draw a rough diagram of an indifference curve containing your classmate’s consumption choices. - Suppose that your classmate also states that he is indifferent two soft drinks and three hamburgers or one soft drink and four hamburgers, but that he prefers three soft drinks and two hamburgers to one soft drink and four hamburgers. Use your diagram from part (a) to reason out whether he can have these preferences.

Microeconomic Theory
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ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter3: Preferences And Utility
Section: Chapter Questions
Problem 3.7P
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Your classmate tells you that he is indifferent between three soft drinks and two hamburgers or two soft drinks and three hamburgers

 

- Draw a rough diagram of an indifference curve containing your classmate’s consumption choices.

 

  - Suppose that your classmate also states that he is indifferent two soft drinks and three hamburgers or one soft drink and four hamburgers, but that he prefers three soft drinks and two hamburgers to one soft drink and four hamburgers. Use your diagram from part (a) to reason out whether he can have these preferences.

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