Question

Discuss if the standard indifference curve. Explain the consumption behavior of an ordinary person who wishes to buy both an essential good (e.g., face masks or sanitizers during the ongoing pandemic crisis) and a non-essential good (e.g., chicken wings or gym membership)

Answer 1

consumption behavior of ordinary person during pandemic is shown in the diagram

he choose the bundle in which quantity of essential good is more than the quantity of non essential good during covid-19 he don't want to sacrifice more of essential good for non essential good. he prefer or rank first the combination in which quantity of essential good is more and quantity of non essential good is less.

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