Draw two indifference curves

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For the following sets of goods, draw two indifference curves(IC1 and IC2 where IC2 yields a higher level of utility than IC1). Draw each graph so that the quantity of the first good is on the horizonal axis and identify utility functions for part a),b) and c) show all steps

a) Sugar and Nutrasweet. The consumer likes them equally well (indifferent between 1 spoon of sugar and 1 spoon of Nutrasweet)

b) Peanut butter and Jelly, The consumer always uses exactly 2 ounces of peanut butter for every ounce of Jelly.

c) Nuts and Ice cream, the consumer neither likes nor dislikes nuts, but likes ice cream

Reference no: EM13739521

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