Suppose there are two types of food meat and bread draw...

Suppose there are two types of food: meat and bread. Draw indifference curves for the following consumers. a. Mia is a vegetarian who doesn't care (one way or the other) about meat. b. Taka, a sumo wrestler, cares only about the number of calories he consumes; he wants to consume as many calories as possible.

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Transcript

0:00 All right.

00:01 So to start this question off, there are two types of food we have to focus on.

00:05 First food is being meat and then the other food being bread.

00:09 We're asked to draw the indifference curves for both of these consumers.

00:13 So we have our first one who is mia, who's a vegetarian and she doesn't care about meat.

00:19 So meat is a no.

00:20 And then we got taka.

00:23 And he's a sumer wrestler.

00:25 He cares about calories.

00:27 So both m and b is something that he wants.

00:30 So what we got to do.

00:31 Do is first step one understand the consumer's preference which is pretty much what we did mia is indifferent to meat but meat and meat provides her with no additional satisfaction taco is calorie focused he doesn't care where the calories come from as long as he gets more of them and now we're going to translate these preferences into indifference curves as asked in the question so first step is we're going to go to mia's indifference curves at first so as we said she doesn't really care about meat and meat doesn't affect her utility so we can draw the indifference starting with bread.

01:06 And we're going to notice that mia's curve is going to be vertical lines.

01:10 So ic3, for example, will stay vertical.

01:14 Ic2 stays vertical...

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