Suppose that Bobs indifference curves are perfectly L-shaped with the right angle occurring when Bob has equal
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Suppose that Bob’s indifference curves are perfectly L-shaped with the right angle occurring when Bob has equal amounts of both goods. What does this imply about Bob’s willingness to trade one good for the other? Give examples of goods where this type of behavior might be expected?
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Perfectly Lshaped indifference curves imply that the Bob considers the two goods to ...View the full answer
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Related Book For 
Managerial Economics and Organizational Architecture
ISBN: 978-0073375823
5th edition
Authors: James Brickley, Jerold Zimmerman, Clifford W. Smith Jr
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