I added the pic of the hw I am indifferent between consuming bundle 1 (5 cookies and 10 chocolate s ) and bundle 2 (10 cookies and 5 chocolate s ).

I added the pic of the hw 

I

am indifferent between

consuming

bundle 1 (5 cookies and 10 chocolate

s

)

and

bundle 2 (10

cookies and 5 chocolate

s

).

I am also indifferent

between bundle

2 and bundle 3

(9 cookies and

15 chocolates). If I

also

stated

that

I prefer bundle 3 to bundle 1, w

hat axiom of indifference

curve is violated

from

my

last

statement

? Explain.

2.

From question 1, d

raw

a graph to illustrate

the

three

statements above

:

i

nd

ifferent between

bundle 1 and 2,

i

nd

ifferent between bundle 2 and 3, and p

r

efer bundle 3 to bundle 1.

3.

What does

your answer above

tell you about the properties of indifference curves?