B econ121 eco11 - Study guides, Class notes & Summaries
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Submissions-B-ECON121-ECO11-MICROECONOMIC-THEORY-2nd-Sem-2022-2023-Midterm-Exam Questions with Correct Answers
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Question 1
If indifference curves are upward sloping, this violates the assumption that preferences Response: require that more to be better
Question 2
If I prefer steak to burritos, burritos to pasta and pasta to steak: Response: My preferences violate the transitivity assumption.
Exam (elaborations)
Submissions-B-ECON121-ECO11-MICROECONOMIC-THEORY-2nd-Sem-2022-2023-Midterm-Exam Questions with Correct Answers
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Question 1 If indifference curves are upward sloping, this violates the assumption that preferences Response: require that more to be better Question 2 If I prefer steak to burritos, burritos to pasta and pasta to steak: Response: My preferences violate the transitivity assumption.
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