Multiple Choice
Wendy is very indecisive. She can't decide whether she should go on a cruise or spend her vacation at her friend's home. Her preferences violate the assumption of:
A) completeness.
B) transitivity.
C) more is better.
D) both completeness and transitivity.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: Suppose that MRSx, <span class="ql-formula"
Q8: Cardinal utility gives us information about which
Q9: Which of the following utility functions
Q10: Diminishing marginal utility and increasing total utility
Q11: If marginal utility is diminishing, then total
Q13: The relationship between total and marginal functions
Q14: Marginal utility is not the slope of
Q15: Marginal utility can never decrease.
Q16: Assume that two baskets and lie on
Q17: Marginal utility is always increasing.