Varian Doubt Again
Posted by Ashima on Mar 28, 2014; 1:34pm
URL: http://discussion-forum.276.s1.nabble.com/Varian-Doubt-Again-tp7585640.html
Randy Ratpack hates studying both economics and history. The
more time he spends studying either subject, the less happy he is. But
Randy has strictly convex preferences.
(a) Sketch an indifference curve for Randy where the two commodities
are hours per week spent studying economics and hours per week spent
studying history. Will the slope of an indifference curve be positive or
negative? Negative.
(b) Do Randy's indifference curves get steeper or flatter as you move from
left to right along one of them? Steeper.
Can someone answer the 2nd part for me?