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Filbert and Lychee have convex indifference curves. Note Filbert is indifferent between baskets (3, 2) and (4, 1)--these are x, y coordinates. Lychee is indifferent between baskets (1, 4) and (2, 3) Not that all four baskets lie along a straight line.
a.) Can you determine whether Filbert and Lychee have identical tastes?
b.) Suppose that Filbert chooses (4,1) and Lychee chooses basket (1, 4). Can you determine whether Filbert and Lychee pay identical prices for the goods they buy?
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can you tell me how this works, i am struggling to write my report in economics and i would like to know how much does it cost some help
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