Question
There's 1 hour left before summer starts and Gabriella has to decide how to allocate her time between practicing her duet with Troy, which she
There's 1 hour left before summer starts and Gabriella has to decide how to allocate her time between practicing her duet with Troy, which she considers a 'good' and cleaning up the music room, which she considers a bad. Fill in the gaps:
Gabriella's indierence curve will be (BLANK) sloping.
If no information is given about the marginal utility of each activity, are we able to estimate the curvature of the indierence curve? (ANSWER)
If we assume that singing with Troy has increasing marginal utility and cleaning the music room has decreasing marginal disutility (once the room gets cleaner she has more space to practice her dance routine), which of the indierence curves would represent Gabriella's preferences? (ANSWER)
I am confused, please explain well!
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