Explanation of indifference curve analysis

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Reference no: EM1316101

Lisa is a lawyer and there are two tasks that she hates to do, even though her job requires it. The first task is reading law journals (R). The second task, which she also hates, is writing out reports for court (W).

a) Draw a graph with hours reading on the horizontal axis and hours writing on the vertical. Using an analysis similar to what we did in class, determine whether indifference curves will slope upward or downward. Explain why.

b) Suppose Lisa reads for 3 hours and writes for 5. If Lisa's vision got worse so that she hates reading even more than she does. Would you expect indifference curves to be steeper or shallower at the bundle (3,5).

c) Would you expect the indifference curve to be steeper or shallower at points that represent a lot of reading and very little writing? Why?

Reference no: EM1316101

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