b. Tulip is also indifferent between having 4 burritos and no pork buns and having &8 pork buns and no burritos. However, she would prefer to have 2 burritos and 4 pork buns instead. i. Draw a couple of Tulip's indifference curves (what they might plausibly look like – you don't have enough information to draw them precisely) ii. Are Tulip's preferences convex?

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b. Tulip is also indifferent between having 4 burritos and no pork buns and having 8 pork buns
and no burritos. However, she would prefer to have 2 burritos and 4 pork buns instead.
i. Draw a couple of Tulip's indifference curves (what they might plausibly look like – you
don't have enough information to draw them precisely)
ii. Are Tulip's preferences convex?
Transcribed Image Text:b. Tulip is also indifferent between having 4 burritos and no pork buns and having 8 pork buns and no burritos. However, she would prefer to have 2 burritos and 4 pork buns instead. i. Draw a couple of Tulip's indifference curves (what they might plausibly look like – you don't have enough information to draw them precisely) ii. Are Tulip's preferences convex?
Suppose Mindy and Tulip are roommates. Mindy works part-time at Roberto's and can bring home
four carne asada burritos for free every week. Tulip works part time at Tapioca Express and can bring
home eight steamed pork buns for free every week. Use x to denote the number of burritos, and y
to denote the number of pork buns.
Transcribed Image Text:Suppose Mindy and Tulip are roommates. Mindy works part-time at Roberto's and can bring home four carne asada burritos for free every week. Tulip works part time at Tapioca Express and can bring home eight steamed pork buns for free every week. Use x to denote the number of burritos, and y to denote the number of pork buns.
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