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Math Help - word problem indifference curve

  1. #1
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    word problem indifference curve

    [FONT='Times New Roman','serif']In recent years, fresh bagel sales have been growing at about 30 percent
    per year. Once considered an ethnic food to be eaten only with cream cheese
    and lox, bagels now "have become the new doughnut to bring to the office,"
    according to Michael Goldstein of Goldstein's Bagel Bakery in Pasadena,
    California. But one problem with bagels is that they get stale fast. In the
    words of Ray Lahvic, editor emeritus of Bakery Production and Marketing,
    "the worst thing in the world is a day-old bagel. If a market researcher
    asserts that the slope of the typical consumer's indifference curves between
    fresh bagels and day-old bagels is -1, would you agree with this asser­tion?[/FONT]
    [FONT='Times New Roman','serif'] Why or why not?[/FONT]
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  2. #2
    Grand Panjandrum
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    Quote Originally Posted by jhayes View Post
    [FONT='Times New Roman','serif']In recent years, fresh bagel sales have been growing at about 30 percent[/font]
    [FONT='Times New Roman','serif']per year. Once considered an ethnic food to be eaten only with cream cheese[/font]
    [FONT='Times New Roman','serif']and lox, bagels now "have become the new doughnut to bring to the office,"[/font]
    [FONT='Times New Roman','serif']according to Michael Goldstein of Goldstein's Bagel Bakery in Pasadena,[/font]
    [FONT='Times New Roman','serif']California. But one problem with bagels is that they get stale fast. In the[/font]
    [FONT='Times New Roman','serif']words of Ray Lahvic, editor emeritus of Bakery Production and Marketing,[/font]
    [FONT='Times New Roman','serif']"the worst thing in the world is a day-old bagel. If a market researcher[/font]
    [FONT='Times New Roman','serif']asserts that the slope of the typical consumer's indifference curves between[/font]
    [FONT='Times New Roman','serif']fresh bagels and day-old bagels is -1, would you agree with this asser­tion?[/font]
    [FONT='Times New Roman','serif'] Why or why not?[/font]
    If the worst thing in the world was a day old bagel then no number would
    be acceptable as a substitute for a fresh bagel, but a slope of -1 suggests
    this is not the case.

    RonL
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