Question

Consider the Great Woman who is stuck on an island in the Pacific Ocean. The open markets on the island provide many goods that the Great Woman can purchase, such as beef and coconut water. Suppose that the Great Woman’s preferences are such that coconut water is a neuter good and beef is an economic good. Draw the Great Woman’s indifference mapping for beef and coconut water. Place coconut water on the horizontal axis and beef on the vertical axis.

Answer 1

Answer:

attached below is the indifference curve

Explanation:

The indifference map attached shows the Great woman's preference for coconut water as a neuter good and beef as an economic good

as per instruction given in the question the Y axis represents the preference for beef, since coconut being a neuter good, the indifference curve will be a straight line .

note : movement along the y axis is in the upward direction.