Maria likes both chocolate and milk. Assume that the more is better principle applies to Maria; that is, she would always prefer to consume more of either good, holding the consumption of the other good constant. (Using the terminology of preferences, this means you assume that her preferences are monotonic.)
The points on Figure 1 represent combinations of milk and chocolate that Maria might choose to consume. Figure 2 shows the same points as Figure 1 , but it also shows some of Maria's indifference curves: IC_(1),IC_(2), and IC_(3). These curves show more information about Maria's preferences than Figure 1 does.
Maria likes both chocolate and milk. Assume that the more is better principle applies to Maria; that is, she would always prefer to consume more of
are monotonic.)
The points on Figure 1 represent combinations of milk and chocolate that Maria might choose to consume. Figure 2 shows the same points as Figure 1,
1does.
