Sketch indifference curves by using given data

Reference no: EM1315889

Draw indifference curves to represent the following types of consumer preferences (you need only draw two indifference curves for each part. Please draw an arrow to indicate the direction of increased utility)

1. I like both peanut butter and jelly, and I always get the same additional satisfaction from an ounce of peanut butter as I do from 2 ounces of jelly.

2. I like peanut butter, but neither like nor dislike jelly.

Reference no: EM1315889

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