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Construct a representative indifference curve

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Construct a representative indifference curve for each of the following situations. Describe the preferences in each case.

(a) The two goods are dimes (10¢) and loonies ($1)

(b) The two goods are money and oysters, and eating more than a certain number of oysters makes consumer sick.

(c) The two goods are right gloves and left gloves and the consumer has two hands.

(d) The two goods are right gloves and left gloves and the consumer has only one hand.

Reference no: EM131234754

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