Problem
Derive the relationship between the quantity of X demanded and the price of X if the consumer's indifference map vis-à-vis X and Y has curves concave to the origin.
Let X be games of golf per annum and Y all other goods. Draw the indifference map and budget constraint of:
(a) an amateur who pays to play golf;
(b) a professional who is paid to play golf. May we conclude that golfers turn professional because they dislike the game?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.