The table below contains combinations of pretzels and
chips that all yield the same level of utility
pretzels
18
6
1
chips
1
4
10
Part 1. use the three point curve tool to construct the
indifference curve described by the data in the table and label it
as indifference curve 1
Part 2. Now use the copy tool to create a second indifference curve
associated with a higher level utility and label it indifference
curve 2
part 3. finally use the copy tool to create a third indifference
curve associated with a lower level of utility and label it
indifference curve 3
The table can be stated as below.
Pretzels | Chips |
18 | 1 |
6 | 4 |
1 | 10 |
All these combination yield the same utility.
part 1)
part 2)
part 3)
The IC1 is the original, the purple IC2 is indifference curve with higher level utility, as for every Pretzel in the original, more Chips are consumed than the original. Similarly, green IC3 is indiffrerence curve with lower utility, as for every Pretzel in the original, less Chips are consumed than the original. Same can be made with respect to same chips and more or less pretzels, providing indifference curves about similar to what has been made.
The table below contains combinations of pretzels and chips that all yield the same level of...
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