Question

Suppose we change Q& A 4.4 so that Max and Bob have indifference curves that are convex to the origin. Use a figure to discuss how the different slopes of their budget lines affect the choices they make. Can you make any unambiguous statements about how many total books each can buy? Can you make an unambiguous statement if you know that Bob’s budget line goes through Max’s optimal bundle?



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  • CreatedNovember 13, 2014
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