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Describe consumer preferences over

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Reference no: EM131659881

Draw indifference curves that describe consumer's preferences over:

1) 1L bottled water and 500ml bottled water, when all she cares about is the amount of water she consumes.

2) left and right gloves of identical colour, size, design,etc propose a utility function that represents each of the preferences. which of assumptions 1 through 6 do these preferences violate? why? how does MRS21 vary along the indifference curves?

Reference no: EM131659881

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