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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #719119
Introduction to Economics 1 Deneme Sınavı Sorusu #719119
I. Consumer’s preferences are transitive.II. Consumer’s preferences are incomplete.III. Consumers always prefer more of a commodity to less.Which of the statements given about consumer preferences are true?
Only I |
Only II |
I and II |
I and III |
II and III |
Yanıt Açıklaması:
The basic assumptions of consumer's preferences are preferences are complete: this means that
the consumer is able to compare and rank all possible baskets, consumers always prefer more of a commodity to less, diminishing marginal rate of substitution, consumer’s preferences are transitive. The true answer is D.
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