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Let us suppose that the consumer is choosing between beer and milk. The consumer will always prefer beer to milk. However, if the consumer has two choose between two consumption bundles having equal amounts of beer and different amounts of milk, then he or she will choose the bundle having more milk. Draw the indifference curve of the consumer. What is this particular preference called?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91400311

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