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nakungth nakungth
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An island economy produces only two goods, coconuts and pineapples.  There are five people (A,B, C, D, and E) living on the island with these preferences:

   A   has a strong preference for pineapples.
   B   has a strong preference for coconuts.
   C   doesn't care for pineapples (assigns no value to them).
   D   doesn't care for coconuts (assigns no value to them)
   E   will only consume pineapples and coconuts in the fixed
       proportion of one pineapple to one coconut.       

For each of these five individuals, construct a representative indifference curve with pineapples on the vertical axis and coconuts on the horizontal axis.  Discuss the shape of the indifference curves and relate them to the MRS.
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Microeconomics

Microeconomics


Edition: 8th
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Bart_argBart_arg
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nakungth Author
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6 years ago
Just got PERFECT on my quiz
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africa143
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Correct Slight Smile TY
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