Draw indifference map in the following situations: 5 ( i ) Economic “good” on the vertical axis and. 1 answer below »
Draw triviality map in the aftercited situations: 5
( i ) Economic “good” on the upright axis and an economic “bad” on the even axis.
( ii ) Economic “bad” on twain the axes.
( a ) What are the three steps of formation? In which step of formation get a reasonable reason effect and why?