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Ecs2601 Assignment 5 Semester 1 2024
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. An island economy produces only two goods – coconuts and pineapples. There are five people (A, B, C, D and E) living on the island, with these preferences: A has a strong preference for pineapples. B has a strong preference for coconuts. C doesn’t care for pineapples (assigns no value to them). D doesn’t care for coconuts (assigns no value to them). E will only consume pineapples and coconuts in the fixed proportion of one pineapple to one coconut. For each of these five individuals, construct a representative indifference curve with pineapples on the horizontal axis and coconuts on the vertical axis
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