Question
Lupe is taking a class with Professor Shane. Professor Shane determines grades based on assignment marks and a final exam. The final exam is worth
Lupe is taking a class with Professor Shane. Professor Shane determines grades based on assignment marks and a final exam. The final exam is worth twice as much as the assignment for determining the final grade.
With assignment grades on the "X" axis, and the exam grade on the "Y" grade, draw 2 of Lupe's indifference curves.
What is her MRS? Are her preferences convex? strictly convex?
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Introduction to Behavioral Economics
Authors: David R. Just
1st edition
0470596228, 978-0470596227
