Answer to Question #279249 in Microeconomics for basit

Question

1.     Draw indifferences curves to represent each of the following type of preferences.

(i)  A customer is always pleased to change 5 sweet candy for 1 chochlate bar.

(ii) A customer always desires 2 glasses to wear with 1 frame.

Answer 1

Solution:

i.). The indifference curve is as below:

 

 

 

ii.). The indifference curve is as below: