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Jenny considers movies and concerts to be perfect substitutes. When Jenny maximizes her utility, what will her optimal bundle of movies and concerts probably look
Jenny considers movies and concerts to be perfect substitutes. When Jenny maximizes her utility, what will her optimal bundle of movies and concerts probably look like? 1. Jenny's indifference curves will be concave to the origin. Her optimal bundle will likely consist of just 1 good. 2. Jenny's indifference curves will be straight lines. Her optimal bundle will likely consist of just 1 good. 3. Jenny's indifference curves will be convex to the origin. Her optimal bundle will likely include both goods, with the relative proportions partially determined by their relative prices. 4. Jenny's indifference curves will be L-shaped. Her optimal bundle will include both goods, consumed in a fixed proportion
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