66 954
Assignments Done
99,1%
Successfully Done
In November 2018

Answer to Question #59268 in Microeconomics for Bob

Question #59268
Draw a set of indifference curves for the following pairs of goods and briefly explain each answer.

a) Hamburgers and carrots for a vegetarian who neither likes nor dislikes meat. (Vegetarians do not eat meat.)

b) Peanut butter and jelly for an individual who will not eat peanut butter sandwiches or jelly sandwiches, but loves peanut butter and jelly sandwiches made with two parts peanut butter and one part jelly.

Expert's answer
a) If hamburgers and carrots are the only two products for a vegetarian who neither likes nor dislikes meat, then the indifference curve will be look like a strongly vertical line with quantity of hamburgers on x-axis.

b) If peanut butter and jelly are the only two products for an individual who loves peanut butter and jelly sandwiches made with two parts peanut butter and one part jelly, then the indifference curve will be look like an upward-sloping line, which goes through the points (2;1) and (4;2) with the quantity of peanut butter on x-axis.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions