Draw the indifference curve the given bundle lies on

Reference no: EM132200843

Question: Now suppose Sonia meets up with other local candidates who are willing to trade their volunteers' time. Volunteers are still only willing to perform the task they signed up for, but she can trade as much of her volunteers' time as she likes.

(a) Using the Lagrange method, solve for Sonia's optimal consumption bundle given the budget set. Show your derivations. Is she a net buyer or a net seller of canvasers?

(b) Depict the optimal bundle on the graph from above. Draw the indifference curve this bundle lies on.

Reference no: EM132200843

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