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The following graph shows a variety of possible indifference curves (labeled IC1, IC2, and IC3, respectively) for Latasha. Each indifference curve represents a different level of happiness. RASPBERRIES (Pints per month 10 Budget Constraint Best Bundle IC3 C1 0 2 3 456 7 8 9 10 STRAWBERRIES (Pints per month) HelpClear ALl The shape of the indifference curves indicates that the goods strawberries and raspberries must be Suppose the price of strawberries is $3 per pint, the price of raspberries is $5 per pint, and Latashas total income is $30 per month. On the previous graph, use the purple line (diamond symbols) to draw the budget constraint. Then, place the black point (X symbol) on the graph to indicate the best bundle. Dashed drop lines will automatically extend to both axes.

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Answer #1

Perfect substitutes of each other.

Straight line indifference curve shows that the two goods are perfect substitute of each other

4 6 t O suce $30 LO 1n con e lo urets 30 3 50 (units 6

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