Question
There are two goods: sushi and fried chicken. Let S represents weekly consumption of sushi and F represent weekly consumption of fried chicken. A unit
There are two goods: sushi and fried chicken. Let S represents weekly consumption of sushi and F represent weekly consumption of fried chicken. A unit of sushi contains 200 calories, while a unit of fried chicken contains 600 calories. For each of the following descriptions of a consumer's preference, draw the corresponding indifference curves in a graph with S on the horizontal axis and F on the vertical axis:
a) Food is food. I do not care how I get my calories. The more calories I get, the happier I am.
b) I am on a strict diet. I like food but I just cannot consume more than 1800 calories a day. Any food in excess of this I just throw away (at no cost to me). I also like to keep a balanced diet: 2 units of sushi for each unit of fried chicken.
c) I like fried chicken but I hate sushi. If I am served sushi, I just throw it away.
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