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For each example, draw three indifference curves that represent the given preferences. You are free to provide me with any set of indifference curves that
For each example, draw three indifference curves that represent the given preferences. You are free to provide me with any set of indifference curves that would fit the description. Please also show the direction of increasing utility. (a) Melissa spends essentially all her free time on one of two things: either watch- ing baseball highlights, or munching on chips. Both of these pastimes fill her life with joy. However, she does find that if she focuses too much time on one activity over the other, she starts to get a bit tired of it. (b) Ben loves jelly beans. However, he is very picky about flavours - he only eats the red and the green ones. He especially likes the green ones. In fact, no mat- ter what, he will always be willing to trade four red ones in exchange for one green one. (c) Meera is obsessed with coffee. However, it needs to be made a very specific way - she wants 1/3 of each drink to be milk, and the rest coffee. If the ratio is even a little bit off, the cup is ruined and she gets no pleasure from it whatsoever. (d) Carlos loves to binge watch shows on Amazon Prime. His two favourites right now are "Rings of Power" and "Wheel of Time." He never stops enjoying watching either show. But with each individual show, each additional episode he watches gives him more enjoyment than the episode before
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