Joe Cool went to a baseball game and got very hungry for a hotdog. W.pdf
0 likes9 views
Joe Cool attended a baseball game and craved a hotdog, which he typically enjoys alongside soda. His indifference curve map for these goods is likely L-shaped, indicating they are perfect complements. This type of curve, known as a right-angled indifference curve, suggests that he consumes the two items together rather than separately.
1 of 1
Download to read offline
More Related Content
More from arihantpatna (20)
Ad
Recently uploaded (20)
Ad
Joe Cool went to a baseball game and got very hungry for a hotdog. W.pdf
- 1. Joe Cool went to a baseball game and got very hungry for a hotdog. While it is true that the ballpark sells soda and hotdogs separately, Joe Cool never has one without having one of the other. Hisindifference curve map between these two goods is most likely A. made up of linear indifference curves. B. made up of indifference curves that bow “out” away from the origin. C. made up of indifference curves that are positively sloped. D. made up of indifferences curves that cross each other. E. made up of “L” shaped indifference curves. Solution E. made up of “L” shaped indifference curves. The curve is L shaped when goods are perfectly complementing eachother which is called as Right-Angled indifference curve.