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Ice cream and pie if these are goods that you like

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Reference no: EM13314676

Draw a set of indifference curves for the following pairs of goods:

• Meat and carrots for a vegetarian who neither likes nor dislikes meat.

• Bread and milk for an individual who always consume them together.

• Fortune and Business Week for an individual who regard this two magzine are perfect substitute.

• Ice cream and pie if these are goods that you like, but if you eat too much of either, you get sick of them. If you are sick of a good, eating more of it lowers you utility.

(Note: need not to be precise, but the key idea is to describe the how indifference curve’s slope changes in different situations)

Reference no: EM13314676

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