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April 19, 2014

Homework Help: college-ECONOMICS

Posted by Mikel on Wednesday, October 8, 2008 at 5:41pm.

Most of the preferences we use in class exhibit convexity.
What does it imply about the shape of indifference curves? Explain, in
words, what this implies about consumer preferences, think of an example
where this might be a bad assumption and try to come up with a utility
function that captures your idea in the example.

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