Consider the family of indifference curves for Kathy pictured below. 1. Where would Kathy prefer tobe, point

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Consider the family of indifference curves for Kathy pictured below.

1. Where would Kathy prefer tobe, point F or point E? Why? 2. Where would Kathy rather prefer to b, point A or point B? Why?

3. 3. If Kathy's budget constraint were represented on this graph by a line tangent to point A (red line on graph below), where does Kathy choose to consume? Why?

Posted Date: Jun 11, 2024 09:03 PM

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Consider the family of indifference curves for Kathy pictured below. 1. Where would Kathy prefer tobe, point

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