Frank is taking a course on macroeconomic theory. His course grade is based on assignment marks and
No answer yet for this question.
Ask a Tutor
Question:
- Frank is taking a course on macroeconomic theory. His course grade is based on assignment marks and a final exam. The final exam is worth twice as much as the assignment for determining the course grade.
- (a) With assignment grades on the X-axis and the final exam grade on the Y-axis, draw two of Frank's indifference curves. (b) What is his MRS? (c) Are Frank's preferences convex? Explain. Are they strictly convex? Explain. Are they monotonic? Explain.
Related Book For
Intermediate Microeconomics and Its Application
ISBN: 978-1133189039
12th edition
Authors: Walter Nicholson, Christopher M. Snyder
Posted Date: