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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![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffa1f2822-8ee5-4468-b761-4648e25887d9%2Fc40e9702-a019-44eb-887e-c69338348ba4%2Fxi9sp8n_processed.png&w=3840&q=75)
Transcribed Image Text: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
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