Suppose that Calvin considers Pepsi and Coke to be perfect substitutes. They taste the same to him,
Question:
a. Will Calvin's indifference curves showing his trade-off between Pepsi and Coke have the same curvature as the indifference curves drawn in the figures in this appendix? Briefly explain.
b. How will Calvin decide whether to buy Pepsi or Coke?
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a Calvins indifference curves wont be curved like the indifference c...View the full answer
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