Question: Economics question 1. Suppose that there are two commodities which are available in nonnegative amounts. Draw some pictures of indifference curves for preference relations having

Economics question 1. Suppose that there are two commodities which are

Economics question

1. Suppose that there are two commodities which are available in nonnegative amounts. Draw some pictures of indifference curves for preference relations having the following properties: (a) Strictly (or strongly) convex but not monotone. (b) Convex and strictly monotone but not strictly (or strongly) convex. (c) Convex but not strictly (or strongly) convex AND monotone but not strictly (or strongly) monotone. (d) Not convex

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