Alex and Ben have identical preferences for two goods. Alex's consumption bundle lies on an indifference curve labeled I_A, and Ben's consumption bundle lies on an indifference curve labeled I_B. If the curve I_B is located entirely to the northeast (further from the origin) of the curve I_A, it is still possible for Alex to prefer his bundle over Ben's bundle.
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The Economy 2.0 Microeconomics @ CORE Econ
Ch.9 Lenders and borrowers and differences in wealth - The Economy 2.0 Microeconomics @ CORE Econ
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Consider a consumer's preferences for two goods, represented by an indifference map. Consumption bundles A and B both lie on indifference curve I1. Consumption bundle C lies on indifference curve I2. Indifference curve I2 is located to the northeast (further from the origin) of I1. Assuming the standard properties of indifference curves, which statement accurately describes the consumer's preferences?
Alex and Ben have identical preferences for two goods. Alex's consumption bundle lies on an indifference curve labeled I_A, and Ben's consumption bundle lies on an indifference curve labeled I_B. If the curve I_B is located entirely to the northeast (further from the origin) of the curve I_A, it is still possible for Alex to prefer his bundle over Ben's bundle.
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