6. Draw indifference curves for two goods x and y, where y is a bad good. Specify each axis, show the direction utility is increasing using an arrow, explain the meaning of a bad good, and provide an example of a bad good. (ch. 5).

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Chapter6: Consumer Choice And Demand
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6. Draw indifference curves for two goods x and y, where y is a bad good. Specify each
axis, show the direction utility is increasing using an arrow, explain the meaning of a
bad good, and provide an example of a bad good. (ch. 5).
Transcribed Image Text:6. Draw indifference curves for two goods x and y, where y is a bad good. Specify each axis, show the direction utility is increasing using an arrow, explain the meaning of a bad good, and provide an example of a bad good. (ch. 5).
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