Suppose that a person always consumes 3 scoops of ice cream, Business Economics

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Suppose that a person always consumes 3 scoops of ice cream

Suppose that a person always consumes 3 scoops of ice cream with 1 ice cream cone..

a. Show such preferences in an indifference curve mapping with ice cream cones on the x-axis.

b. If the price of ice cream is P_I per scoop and the price of cones is P_C per cup and the consumer has m dollars to spend on ice cream and cones, how much will she want to purchase of each good? Show this bundle on your indifference curve mapping.

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Business Economics: Suppose that a person always consumes 3 scoops of ice cream

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Business Economics: Suppose that a person always consumes 3 scoops of ice cream

Reference No:- TGS0995907

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