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Draw your indifference curves for two commodities: (a) where you regard one and two as perfect complements; (b) where you regard one and two as perfect substitutes; (c) where you regard one and two as substitutes;

Draw your indifference curves for two commodities: (a) where you regard one and two as perfect complements; (b) where you regard one and two as perfect substitutes; (c) where you regard one and two as substitutes;

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Draw your indifference curves for two commodities:

(a) where you regard one and two as perfect complements;

(b) where you regard one and two as perfect substitutes;

(c) where you regard one and two as substitutes;

(d) where you regard commodity one as bad and two as good commodity;

(e) where you regard commodity one as neuter and two as bad commodity;

Draw your indifference curves for two commodities: (a) where you regard one and two as perfect complements; (b) where you regard one and two as perfect substitutes; (c) where you regard one and two as substitutes; (d) where you regard commodity one as bad and two as good commodity; where you regard commodity one as neuter and two as bad commodity;
Transcribed Image Text:Draw your indifference curves for two commodities: (a) where you regard one and two as perfect complements; (b) where you regard one and two as perfect substitutes; (c) where you regard one and two as substitutes; (d) where you regard commodity one as bad and two as good commodity; where you regard commodity one as neuter and two as bad commodity;
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