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hint : for each problem below use attached graph and for each just say which basket is preferred, if possible. 1. Huey consumes only two goods, X and Y . His indifference curves have the usual (convex) shape. He prefers basket (1, 3) to basket (2, 2).

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  1. hint: for each problem below use attached graph and for each just say which basket is preferred, if possible. 1. Huey consumes only two goods, X and Y . His indifference curves have the usual (convex) shape. He prefers basket (1, 3) to basket (2, 2). a) Is it possible to tell whether Huey prefers (1, 3) to (3, 1)? b) Is it possible to tell whether Huey prefers (2, 2) to (3, 1)? 2. Dewey consumes only two goods, X and Y . His indifference curves have the usual (convex) shape. He prefers basket (1, 3) to basket (3, 1). a) Is it possible to tell whether Dewey prefers (1, 3) to (2, 2)? b) Is it possible to tell whether Dewey prefers (3, 1) to (2, 2)? 3. Louie consumes only two goods, X and Y . His indifference curves have the usual (convex) shape. He prefers basket (2, 2) to basket (1, 3). a) Is it possible to tell whether Louie prefers (2, 2) to (3, 1)? b) Is it possible to tell whether Louie prefers (1, 3) to (3, 1)? 4. Donald consumes only two goods, X and Y . His indifference curves have the usual (convex) shape. He is exactly indifferent between baskets (1, 3) and (2, 2). Which does he prefer between (2, 2) and (3, 1)?

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  4. Y 3 2 1 X 1 2 3

  5. Y 3 2 1 X 1 2 3

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