3033199
Descripción
Test por pavandeep9, actualizado hace más de 1 año
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Creado por pavandeep9
hace alrededor de 9 años
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Pregunta 1
Pregunta
The assumption that preferences are complete requires the consumer
Respuesta
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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
Pregunta 2
Pregunta
Irena likes Rajiv twice as much as she likes Royston. This is an example of
Respuesta
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ordinal preferences
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cardinal preferences
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transitivity
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diminishing marginal utility
Pregunta 3
Pregunta
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.
Respuesta
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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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