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Draw indifference curve and indicate the direction of the weakly preferred set. A) A person likes exactly three pickles with a sausage. Other combination of
Draw indifference curve and indicate the direction of the weakly preferred set.
A) A person likes exactly three pickles with a sausage. Other combination of pickles and sausage has no utility to him. Draw sausage on the x axis and pickles on the y axis.
B) Assume everyday a typical human being need to have vegetables and meat. The person always likes more meat, but dislikes vegetables. The consumer has convex preferences. Draw meat on the x axis.
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