Draw possible indifference maps between the following:

Draw possible indifference maps between the following: Two goods. A good and a bad. A good and a neuter. A good and a commodity that is a good up to a point but then becomes a bad. 7. What are the four essential properties of indifference curves between two goods? Explainhe justification for each of the four properties. 4. For His Income and My Income regarded as goods what shape for the indifference curves would correspond to the Golden Rule (Love thy neighbor as thyself)? 3.a. What is the budget line? What is its equation? What determines the slope of the budget line? 4. What is the geometrical condition for the optimum of the consumer? (Distinguish between a corner solution and an interior solution.) 12. Show how an individuals demand curve can be derived from the Price Expansion Path 1. a. Describe an experiment that might reveal an individuals Marginal Rate of Substi- tution in Consumption between two goods. b. Describe how an experiment might reveal Marginal Utility for either good.

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