Question

For each type of preference that follows, draw an indifference curve on a graph. In in...

For each type of preference that follows, draw an indifference curve on a graph. In in each case, indicate with an arrow the direction in which the upper curves are located.

a) Normal preferences. b) Perfect substitutes. c) Perfect supplements. d) Good 1 is undesirable. e) Both goods are subject to saturation. f) Good 1 is subject to saturation, while good 2 is always desirable. g) We prefer the extreme baskets to the intermediate baskets. h) Good 1 is neutral. i) Quasi-linear preferences. j) Both goods are undesirable.

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