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Frank is taking a course on macroeconomic theory. His course grade is based on assignment marks and a final exam. The final exam is worth
- Frank is taking a course on macroeconomic theory. His course grade is based on assignment marks and a final exam. The final exam is worth twice as much as the assignment for determining the course grade.
- (a) With assignment grades on the X-axis and the final exam grade on the Y-axis, draw two of Frank's indifference curves. (b) What is his MRS? (c) Are Frank's preferences convex? Explain. Are they strictly convex? Explain. Are they monotonic? Explain.
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Intermediate Microeconomics and Its Application
Authors: Walter Nicholson, Christopher M. Snyder
12th edition
978-1133189022, 1133189024, 1133189032, 978-1305176386, 1305176383, 978-0357687000, 978-1133189039
