Map of indifference curves and a budget constraint

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Reference no: EM13986079

a. Given a map of indifference curves and a budget constraint, show how a demand curve for a particular good can be obtained.

b. Given a map of indifference curves and a budget constraint, show how an income-consumption curve for a particular good is obtained.

c. Explain which curve will allow us to identify the relationship between two goods as either substitutes or complements.

d. Explain which curve will allow us to identify whether two goods are normal or inferior.

Reference no: EM13986079

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