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Gideon123 Gideon123
wrote...
Posts: 524
5 years ago
Vinny consumes tacos and chicken wings. To keep his utility constant, he must consume more tacos if he consumes fewer chicken wings. This means that

• Vinny's indifference curve for tacos and chicken wings must have a negative slope.

• the prices Vinny pays for tacos and chicken wings are always the same.

• Vinny's marginal utility from each good must be constant along his convex indifference curves for tacos and chicken wings.

• Vinny's marginal rate of substitution must be constant along his indifference curves for tacos and chicken wings.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
Read 47 times
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wrote...
5 years ago
Vinny's indifference curve for tacos and chicken wings must have a negative slope.
Gideon123 Author
wrote...
5 years ago
This calls for a celebration Person Raising Both Hands in Celebration
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