HW3 - CUNY Queens College, Economics 205, Geordan Hull, 1...

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CUNY – Queens College, Economics 205, Geordan Hull, 1 HW #3 2.   Draw indifference curves that represent the following individuals’ preferences for  hamburgers and soft drinks.  Indicate the direction in which the individuals’ satisfaction  (or utility) is increasing.   a. Joe has convex preferences and dislikes both hamburgers and soft drinks. b. Jane loves hamburgers and dislikes soft drinks.  If she is served a soft drink, she  will pour it down the drain rather than drink it.   c. Bob loves hamburgers and dislikes soft drinks.  If he is served a soft drink, he will  drink it to be polite. d. Molly loves hamburgers and soft drinks, but insists on consuming exactly one soft  drink for every two hamburgers that she eats. e. Bill likes hamburgers, but neither likes nor dislikes soft drinks. f. Mary always gets twice as much satisfaction from an extra hamburger as she does  from an extra soft drink. 3.  If Jane is currently willing to trade 4 movie tickets for 1 basketball ticket, then 
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HW3 - CUNY Queens College, Economics 205, Geordan Hull, 1...

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