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Economics

Picabo, an aggressive skier, spends her entire income on skis and bindings. She wears out one pair of skis for every pair of bindings she wears out.

a. Graph Picabo's indifference curves for skis and bindings.

b. Now draw her indifference curves on the assumption that she is such an aggressive skier that she wears out two pairs of skis for every pair of bindings she wears out.

c. Suppose Picabo has $3600 to spend on skis and bindings. Find her best affordable bundle of skis and bindings under both of the preferences described in the previous problem. Skis are $480/pair and bindings are $240/pair.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M962160

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