Multiple Choice
If indifference curves are upward sloping,this violates the assumption that preferences
A) are complete
B) are transitive.
C) require that more to be better.
D) Upward sloping indifference curves do not violate any of the assumptions about preferences.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: Which of the following statements is false?<br>A)Marginal
Q3: Suppose that a consumer has the utility
Q16: Suppose that a consumer has the utility
Q17: Suppose the marginal rate of substitution of
Q20: 53.If two goods are perfect substitutes,then<br>A) the
Q22: Consider the utility function U = 5x
Q24: Which of the following statements is false?<br>A)If
Q39: Marginal utility is<br>A)always increasing.<br>B)maximized when total utility
Q57: Two goods are perfect substitutes. The marginal
Q58: If a consumer would rather eat three