Practice01

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Unformatted text preview: ) the consumption bundle a er price change. (c) (a) or (b) indi erently. (d) neither (a) nor (b). . Alicia is a vegetarian, so she does not eat beef. at is, beef provides no additional (positive or negative) utility to Alicia. She loves potatoes, however. If we illustrate Alicia’s indi erence curves by drawing beef on the horizontal axis and potatoes on the vertical axis, her indi erence curves will (a) slope downward. (b) be vertical straight lines. (c) slope upward. (d) be horizontal straight lines. . A consumer has preferences over two goods, X and Y. Suppose we graph this consumer’s preferences (which satisfy the usual properties of indi erence curves) and budget constraint on a diagram with X on the horizontal axis and Y on the vertical ax...
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This document was uploaded on 03/21/2014.

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