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2.7. Describe the properties of consumer demand functions obtained in our model Jnsumer buying behavior 2.8. Give a geometric construction of consumer demand curves based

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2.7. Describe the properties of consumer demand functions obtained in our model Jnsumer buying behavior 2.8. Give a geometric construction of consumer demand curves based on rences (indifference curves ), prices , and the consumer's income .Make your ams large and label all curves , axes , and points . Explain your construction in words . 2.9. How is the price -consumption curve in our model of consumer buying vior related to the consumer's demand curve ? 2.10 . Show geometrically how it is possible in our model of consumer demand to are an upward sloping consumer demand curve from constrained utility mization . Make your diagram large and label all curves , axes , and points . 2.11 . Draw a diagram and use it to explain how to calculate income and itution ratios .Make your diagram large and label all curves , axes , and points . 2.12 . How are upward sloping consumer demand curves explained in terms of he and substitution ratios ? 2.13 . What must be true about the relative magnitudes of substitution and income ; in order to have a normal good ? an inferior good ? a Giffen good? 2.14 . Describe how our model of the consumer's buying behavior is modied to til] the consumer's supply of labor. 2.15a . In our model explaining the consumer's supply of labor , what determines slope of the consumer's budget line ? the values at which the budget line meets the ontal and vertical axes '? the slope of the consumer's labor supply curve ? b. Is it possible for the labor supply curve to be negatively sloped ? Why or not ? 2.16 . How , and in what time period , does a firm go out of business ? 2.17 . How is plant or firm size measured

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