27. Suppose that Bobs indifference curves are perfectly L-shaped with the right angle occurring when Bob has
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2–7. Suppose that Bob’s indifference curves are perfectly L-shaped with the right angle occurring when Bob has equal amounts of both goods. What does this imply about Bob’s willingness to trade one good for the other? Give examples of goods where this type of behavior might be expected?
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Managerial Economics And Organizational Architecture
ISBN: 9781260571219
7th International Edition
Authors: Clifford W. Smith, Jerold Zimmerman, James Brickley
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