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2. Draw indifference curves for each of the following situations. Label the axes and indicate the direction of preference. a. All movies are alike to Jake. He is indifferent between comedies and indie films. b. Fred considers horror movies a "good" and dramas a "bad". c. Corey enjoys comedies and thrillers only if he gets to watch three comedies for each thriller. If he watches an extra comedy or thriller outside of the 3:1 ratio, he derives no enjoyment from the movie. d. Carolyn doesn't care how many hours of non-animated movies she watches, but the more animated movies she watches, the happier/better off she is. please draw indifference curves

2. Draw indifference curves for each of the following situations. Label the axes and indicate the direction of preference. a. All movies are alike to Jake. He is indifferent between comedies and indie films. b. Fred considers horror movies a "good" and dramas a "bad". c. Corey enjoys comedies and thrillers only if he gets to watch three comedies for each thriller. If he watches an extra comedy or thriller outside of the 3:1 ratio, he derives no enjoyment from the movie. d. Carolyn doesn't care how many hours of non-animated movies she watches, but the more animated movies she watches, the happier/better off she is. please draw indifference curves

Economics (MindTap Course List)
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter20: Consumer Choice: Maximizing Utility And Behavioral Economics
Section20.1: Utility Theory
Problem 3ST
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2. Draw indifference curves for each of the following situations. Label the axes and indicate the direction of preference. a. All movies are alike to Jake. He is indifferent between comedies and indie films. b. Fred considers horror movies a "good" and dramas a "bad". c. Corey enjoys comedies and thrillers only if he gets to watch three comedies for each thriller. If he watches an extra comedy or thriller outside of the 3:1 ratio, he derives no enjoyment from the movie. d. Carolyn doesn't care how many hours of non-animated movies she watches, but the more animated movies she watches, the happier/better off she is. please draw indifference curves
Transcribed Image Text:2. Draw indifference curves for each of the following situations. Label the axes and indicate the direction of preference. a. All movies are alike to Jake. He is indifferent between comedies and indie films. b. Fred considers horror movies a "good" and dramas a "bad". c. Corey enjoys comedies and thrillers only if he gets to watch three comedies for each thriller. If he watches an extra comedy or thriller outside of the 3:1 ratio, he derives no enjoyment from the movie. d. Carolyn doesn't care how many hours of non-animated movies she watches, but the more animated movies she watches, the happier/better off she is. please draw indifference curves
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