3033199
Descrição
Quiz por pavandeep9, atualizado more than 1 year ago
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Criado por pavandeep9
mais de 11 anos atrás
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Questão 1
Questão
The assumption that preferences are complete requires the consumer
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to rank any two baskets
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to say that basket C is preferred to basket A if basket B is preferred to basket A and basket C is preferred to basket B
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to rank a basket with more units of all goods higher than a basket with fewer units of all goods
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to have a diminishing marginal rate of substitution
Questão 2
Questão
Irena likes Rajiv twice as much as she likes Royston. This is an example of
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ordinal preferences
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cardinal preferences
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transitivity
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diminishing marginal utility
Questão 3
Questão
Identify the truthfulness of the following statements. I. Ordinal utility gives us information about which basket the consumer prefers and quantitative information about the intensity of the preference. II. Cardinal utility gives us information about which basket the consumer prefers but not about the intensity of those preferences.
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Both I and II are true
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Both I and II are false
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I is true; II is false
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I is false; II is true
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