Author Question: Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference ... (Read 253 times)

saraeharris

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Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference curves are represented by I1, I2, I3, and I4 curves. What is Keith's utility maximization choice?
◦ only 2 fresh soups
◦ only 4 canned soups
◦ 4 canned soups and 2 fresh soups
◦ 4 canned soups and 4 fresh soups



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rosent76

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Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference curves are represented by I1, I2, I3, and I4 curves. Canned soup sells for $1 per serving and fresh soup sells for $2 per serving. What is Keith's income?
◦ $5
◦ $8
◦ $2
◦ $4






 

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