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Unformatted text preview: easier to work with. Monotonicity Graph1: If a construct a new bundle that contains no less of good 2 but a little bit more of good 1, monotonicity says that: that point is better. Graph2: In monotonicity Ba is better than Wa, but we cant conclude where the other points in the other areas stand relative on Ba. Monotonicity is about more, not more one of and less than the other, just more. Graph3: can point A be an optimum for a consumer, If I can find a better bundle than A, if I can go there, and can afford it, I will buy it. This agent is being pushed towards the budget line. Graph4: we talked about some bundles being strictly better and some bundles being weakly better, and then you can like 2 bundles equally. We are going back to this notion of indifference. Graph 5: ?? how are A and H equal? Graph 6: intersecting graphs? Indifference curves never intersect....
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This note was uploaded on 04/17/2010 for the course LAPS ECON2350 a taught by Professor Barrysmithandtasso during the Spring '10 term at York University.
- Spring '10