Im trying to do a problem where I am being asked to show how a consumers indifference curves for 2 goods are affected by the realization that one of the goods is causing him harm.© BrainMass Inc. brainmass.com October 24, 2018, 8:24 pm ad1c9bdddf
The following posting helps with a problem involving indifference curves.
Managerial economics problem
Given a diagram (see attachment) of an indifference curve and a budget line:
a) Calculate the consumer's income.
b) Calculate the equation of her budget line.
c) Calculate the slope of her budget line.
d) Calculate the price of Good X.
e) Calculate the consumer's marginal rate of substitution in equilibrium.