varian workbook q.3.10 ,q.3.12

MA Economics Entrance Coaching Forums Subject forums Micro varian workbook q.3.10 ,q.3.12

This topic contains 3 replies, has 2 voices, and was last updated by  admin 5 years, 3 months ago.

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  • #561

    anchal chaudhary
    Participant

    i am having problem making indifference curves in both questions.


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  • #563

    admin
    Keymaster

    3.10: were you able to draw the budget line?
    The IC should be a standard convex curve
    3.12: hint: this is a bliss point case…


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  • #569

    anchal chaudhary
    Participant

    3.10: no, not even budget line.

    3.12: the bundle (2,7) will also lie on tommy’s ic?
    also, in such cases we have concentric circles as ic so,why isn’t the shape of mrs. twit’s ic circlular?


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  • #581

    admin
    Keymaster

    discussed in class. let me know if you still have trouble


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