Use the four properties of indifference curves for ordinary goods illustrated in Figure 10-4 to answer the following questions.
a. Can you rank the following two bundles? If so, which property of indifference curves helps you rank them?
Bundle A: 2 movie tickets and 3 cafeteria meals
Bundle B: 4 movie tickets and 8 cafeteria meals
b. Can you rank the following two bundles? If so, which property of indifference curves helps you rank them?
Bundle A: 2 movie tickets and 3 cafeteria meals
Bundle B: 4 movie tickets and 3 cafeteria meals
c. Can you rank the following two bundles? If so, which property of indifference curves helps you rank them?
Bundle A: 12 videos and 4 bags of chips
Bundle B: 5 videos and 10 bags of chips
d. Suppose you are indifferent between the following two bundles:
Bundle A: 10 breakfasts and 4 dinners
Bundle B: 4 breakfasts and 10 dinners
Now compare bundle A and the following bundle:
Bundle C: 7 breakfasts and 7 dinners
Can you rank bundle A and bundle C? If so, which property of indifference curves helps you rank them?