Bill Katz prefers more of good 1 to less and he prefers less of good 2 to more. Bill has convex preferences. If we draw his indifference curves with good 1 on the horizontal axis and good 2 on the vertical axis, what this image looks like and why?
Bill Katz prefers more of good 1 to less and he prefers less of good 2 to more. Bill has convex preferences.
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