Preferences between milk and cookies

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Reference no: EM13860271

Santa Claus has preferences between milk and cookies. Draw indifference curves to represent the following types of preferences: a) Santa likes milk and cookies, and always gets the same satisfaction from 1 ounce of milk as he does 2 ounces of cookies. b) Santa likes cookies, but dislikes milk. c) Santa likes cookies, and neither likes or dislikes milk. d) Santa always consumes 1 ounce of milk with 2 ounces of cookies, or in that proportion (ie 2 ounces of milk and 4 ounces of cookies, etc)

Reference no: EM13860271

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