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Questions: 2. The following exhibit represents Adam's preferences graphically. Wine Preferred to Bundle a W Dominated by Bundle a Indifference Curve through Bundle a Bread

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2. The following exhibit represents Adam's preferences graphically. Wine Preferred to Bundle a W Dominated by Bundle a Indifference Curve through Bundle a Bread B1 a) Analyse the different regions stating the axioms concerning preferences. b) Explain why the indifference curve is characteristically drawn to be convex when viewed from the origin

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