Using a new sheet of paper, draw 4 graphs, and in each one put olives on the horizontal axis and salami on the vertical axis, and mark the points for the bundles M=(10 olives, 4 slices of salami) and N=(0 olives, 10 slices of salami). Then for each of the four consumers listed below, draw the indifference curves that go through those points (and more, if you wish), in a way that is consistent with the preferences described below. When possible, indicate the slope of indifference curves at those points, and show clearly which of the two bundles is preferred. A. Abigail likes olives but doesn't like salami (if she has any, she just ignores it) B. Bob likes to consume exactly 2 olives with each slice of salami, and never eats them separately

Using a new sheet of paper, draw 4 graphs, and in each one put olives on the horizontal axis and salami on the vertical axis, and mark the points for the bundles M=(10 olives, 4 slices of salami) and N=(0 olives, 10 slices of salami). Then for each of the four consumers listed below, draw the indifference curves that go through those points (and more, if you wish), in a way that is consistent with the preferences described below. When possible, indicate the slope of indifference curves at those points, and show clearly which of the two bundles is preferred. A. Abigail likes olives but doesn't like salami (if she has any, she just ignores it) B. Bob likes to consume exactly 2 olives with each slice of salami, and never eats them separately

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 3SQP

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