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3. Indifference curves and preferences Raphael enjoys both pretzels and seltzer. Assume that the more is better principle holds for Raphael, meaning that he would
3. Indifference curves and preferences Raphael enjoys both pretzels and seltzer. Assume that the \"more is better\" principle holds for Raphael, meaning that he would always prefer to consume more of either good, holding the level of consumption of the other good constant. The two figures below present information regarding Raphael's preferences. The points on Figure 1 represent combinations of seltzer and pretzels that Raphael might choose to consume. Figure 2 plots the same points as Figure 1, but it also shows some of Raphael's indifference curves: [1, [2, and 13 . Thus, Figure 2 gives more insight into Raphael's preferences than Figure 1. Figure 1 Figure 2 PRETZELS (Bags) > PRETZELS (Bags) SELTZER (Cans) SELTZER (Cans) Complete the following table by indicating which bundles Raphael strictly prefers to A given only the information in each gure. Information Given By... B C D E F G H Figure 1 Figure 2 Indicate whether each of the following statements is true or false given the graphs. Statement True False Figure 1 does not provide enough information to compare the utility Raphael receives from F versus G. Figure 2 indicates that Raphael prefers bundle F to bundle G
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