4. Tommy's mother believes that the optimal amount for him to consume is 7 glasses of milk and 2 cookies. She measures d

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

4. Tommy's mother believes that the optimal amount for him to consume is 7 glasses of milk and 2 cookies. She measures d

Post by answerhappygod »

4. Tommy's mother believes that the optimal amount for him toconsume is 7 glasses of milk and 2 cookies. She measures deviationsby absolute values. If Tommy consumes some other bundle, say,(c,m), she measures his departure from the optimal bundle by D = |7- m| + |2 - c|. The larger D is, the worse off she thinksTommy is. Draw his indierence curve
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Post Reply