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Unformatted text preview: weakly preferred. 4. Be able to prove that indifference curve cannot cross. 5. Be able to graph and explain the slope of the indifference curves for perfect substitute goods 6. Be able to graph and explain the slope of the indifference curves for perfect complements. 7. Be able to graph and explain the shape and slope of indifference curves for a bad and a neutral good. 8. Be able to graph and explain what monotonic preferences are. 9. Be able to graph and explain what convex, strictly convex, nonconvex and concave preferences are. 10. Define and show on a graph the marginal rate of substitution. What is its relationship with the exchange rate?...
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This note was uploaded on 08/08/2008 for the course ECON 301 taught by Professor Hansen during the Spring '08 term at Wisconsin.
 Spring '08
 Hansen
 Economics, Microeconomics

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