Figure 4-1a: Pizza/movie preferences

Pizza

Movies

Figure 4-1b: Indifference curves

Pizza

Movies

Figure 4-2: Upward-sloping indifference

curve

Pizza

Movies

Figure 4-4: Diminishing marginal utility

Utility

Movies

Figure 4-5: Diminishing marginal utility for U

= sqrt(P*M)

Marginal utility

(1, 1.4)
(2, .6)

(3, .45)

Movies

(4, .38)

Figure 4-6: Indifference curve and MRS

(1,4)

Pizza

(2,2)
2

(4,1)
1

Movies

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14.01SC Principles of Microeconomics

Fall 2011

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