Multiple Choice
An individual whose preferences are given by the indifference curve in Figure 4.1 has preferences that violate which of the following assumptions found in the rational model:
A) Completeness only.
B) Completeness and transitivity.
C) Transitivity only.
D) Monotonicity.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q19: A default option is the option that
Q20: The default option bias implies that the
Q21: The status quo bias is necessarily inconsistent
Q22: The policy implication of the default option
Q23: Consider two goods: <span class="ql-formula"
Q25: A difference in willingness to pay and
Q26: Consider the constant loss aversion utility
Q27: A preference reversal is a violation of
Q28: A consumer faces three bundles of
Q29: Anne and Jim participated in an