Draw the appropriate price-consumption

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1. Jane always gets twice as much utility from an extra ballet ticket as she does from an extra basketball ticket, regardless of how many tickets of either type she has. Draw Jane's income consumption curve and her Engel curve for ballet tickets.

2. a. Orange juice and apple juice are known to be perfect substitutes. Draw the appropriate price-consumption (for a variable price of orange juice) and income-consumption curves.

b. Left shoes and right shoes are perfect complements. Draw the appropriate price-consumption and income-consumption curves.

Reference no: EM131068666

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