Budget line and indifference curves

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Colin and Isabelle both have a weekly dessert budget of $20. The price of an ice cream cone is $2.50, and the price of a candy bar is $1.25. Using a Consumer Choice Theory diagram (budget line & indifference curves), show how it is possible that Colin has a stronger preference for candy bars than Isabelle, but that the MRS for both consumers is the same at their best choice.

Reference no: EM131240827

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