Consider your sets of indifference curves for i. Coke and chips ii. Coke and Pepsi Explain why
Question:
Consider your sets of indifference curves for
i. Coke and chips
ii. Coke and Pepsi
Explain why these sets of indifference curves are likely to look different. Illustrate with a diagram. What does this difference simply about the magnitude of the substitution effects in response to changes in the price of Coke?
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