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1. Ioanie likes seafood platters. She also likes running shorts, as she is an avid runner. She has budgeted $400 to allocate to the two

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1. Ioanie likes seafood platters. She also likes running shorts, as she is an avid runner. She has budgeted $400 to allocate to the two goods for the year. She can buy seafood platters, running shorts, or a combination of the two items. Joanie has decided that she is indifferent between each of the following combinations of goods: [Marks: 6+2+2=10] Combination Number of Seafood Platters Number of Running Shorts A 60 2 B 30 3 C 12 5 D 8 6 E 6 8 F 5 12 I. Using graph paper, please plot Ianie=s indifference curve for seafood platters and running shorts. [1. In two or three sentences explain the following- a. An indifference curve is downward sloping to the right. b. An indifference curve is convex to the origin

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