Family - questions and answers. If you have a question about this topic, please click on the "New Question" button. If you wouldn't like to miss any new question in this topic, please subscribe.

> #family


Feb 19

Consumer preferences?

1. If we observe a consumer choosing (x1, x2) when (y1, y2) is available one time, are we justified in concluding that (x1, x2)  (y1, y2)? 2. Consider a group of people A, B, C and the relation “at least as tall as,” as in “A is at least as tall as B.” Is this relation transitive? Is it complete? 3. Take the same group of people and consider the relation “strictly taller than.” Is this relation transitive? Is it reflexive? Is it complete? 4. A college football coach says that given any two linemen A and B, he always prefers the one who is bigger and faster. Is this preference relation transitive? Is it complete? 5. Can an indifference curve cross itself? For example, could Figure 3.2 depict a single indifference curve? 6. Could Figure 3.2 be a single indifference curve if preferences are mono￾tonic?�

1 1


© 2023 - Quanswer