Your classmate tells you that he is indifferent between three soft drinks and two hamburgers or two soft drinks and three hamburgers. a). Draw a rough diagram of an indifferent curve containing your classmate’s consumption choices. b). The support that your classmate states that he is also indifferent between two soft drinks and three hamburgers or one soft drinks 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. Content information: Indifference curve represents combinations of goods that give the customers the same level of satisfaction. The consumers are indifferent to consumption of goods that fall on a given indifference curve.

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Answer 1

Question

Chapter 20.F, Problem 2P

To determine

Your classmate tells you that he is indifferent between three soft drinks and two hamburgers or two soft drinks and three hamburgers.
a). Draw a rough diagram of an indifferent curve containing your classmate’s consumption choices.
b). The support that your classmate states that he is also indifferent between two soft drinks and three hamburgers or one soft drinks 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.

Content information:

Indifference curve represents combinations of goods that give the customers the same level of satisfaction. The consumers are indifferent to consumption of goods that fall on a given indifference curve.

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Answer 2

Question

Chapter 20.F, Problem 2P

To determine

Your classmate tells you that he is indifferent between three soft drinks and two hamburgers or two soft drinks and three hamburgers.
a). Draw a rough diagram of an indifferent curve containing your classmate’s consumption choices.
b). The support that your classmate states that he is also indifferent between two soft drinks and three hamburgers or one soft drinks 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.

Content information:

Indifference curve represents combinations of goods that give the customers the same level of satisfaction. The consumers are indifferent to consumption of goods that fall on a given indifference curve.

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Answer 3

Question

Chapter 20.F, Problem 2P

To determine

Your classmate tells you that he is indifferent between three soft drinks and two hamburgers or two soft drinks and three hamburgers.
a). Draw a rough diagram of an indifferent curve containing your classmate’s consumption choices.
b). The support that your classmate states that he is also indifferent between two soft drinks and three hamburgers or one soft drinks 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.

Content information:

Indifference curve represents combinations of goods that give the customers the same level of satisfaction. The consumers are indifferent to consumption of goods that fall on a given indifference curve.

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Answer 4

Question

Chapter 20.F, Problem 2P

To determine

Your classmate tells you that he is indifferent between three soft drinks and two hamburgers or two soft drinks and three hamburgers.
a). Draw a rough diagram of an indifferent curve containing your classmate’s consumption choices.
b). The support that your classmate states that he is also indifferent between two soft drinks and three hamburgers or one soft drinks 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.

Content information:

Indifference curve represents combinations of goods that give the customers the same level of satisfaction. The consumers are indifferent to consumption of goods that fall on a given indifference curve.

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Answer 5

Chapter 20.F, Problem 2P

To determine

Your classmate tells you that he is indifferent between three soft drinks and two hamburgers or two soft drinks and three hamburgers.
a). Draw a rough diagram of an indifferent curve containing your classmate’s consumption choices.
b). The support that your classmate states that he is also indifferent between two soft drinks and three hamburgers or one soft drinks 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.

Content information:

Indifference curve represents combinations of goods that give the customers the same level of satisfaction. The consumers are indifferent to consumption of goods that fall on a given indifference curve.

Answer 6

Chapter 20.F, Problem 2P

To determine

Your classmate tells you that he is indifferent between three soft drinks and two hamburgers or two soft drinks and three hamburgers.
a). Draw a rough diagram of an indifferent curve containing your classmate’s consumption choices.
b). The support that your classmate states that he is also indifferent between two soft drinks and three hamburgers or one soft drinks 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.

Content information:

Indifference curve represents combinations of goods that give the customers the same level of satisfaction. The consumers are indifferent to consumption of goods that fall on a given indifference curve.

Answer 7

Chapter 20.F, Problem 2P

To determine

Your classmate tells you that he is indifferent between three soft drinks and two hamburgers or two soft drinks and three hamburgers.
a). Draw a rough diagram of an indifferent curve containing your classmate’s consumption choices.
b). The support that your classmate states that he is also indifferent between two soft drinks and three hamburgers or one soft drinks 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.

Content information:

Indifference curve represents combinations of goods that give the customers the same level of satisfaction. The consumers are indifferent to consumption of goods that fall on a given indifference curve.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 20.F - Prob. 1P Ch. 20.F - Prob. 2P Ch. 20.F - Prob. 3P Ch. 20.F - Prob. 4P Ch. 20.F - Prob. 5P Ch. 20.F - Prob. 6P Ch. 20.F - Prob. 7P Ch. 20.F - Prob. 8P Ch. 20.F - Prob. 9P Ch. 20.F - Prob. 10P

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