Homework Answers
Ans.1-
Bill is indifferent between 4 movie tickets and 1 ticket to a basketball game. It means that he gets the same level of utility from both 4 movie tickets as well as 1 ticket to a basketball game.So, out of these 2 options he will buy the one which is cheaper.
Price of 4 movie tickets = $32
Price of a ticket to the basketball = $40
Since price of 4 movie tickets is lower than that of price of a ticket to the basketball so he will most likely buy movie tickets.
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