=+Suppose that the choice set is defined by linear budget constraint and tastes satisfy the usual assumptions

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=+Suppose that the choice set is defined by linear budget constraint and tastes satisfy the usual assumptions but contain indifference curves with linear components (or “flat spots”). True/False: There might

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Microeconomics An Intuitive Approach With Calculus

ISBN: 9781337335652,9781337027632

2nd Edition

Authors: Thomas Nechyba

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Question Posted: Nov 04, 2024 02:00 AM

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=+Suppose that the choice set is defined by linear budget constraint and tastes satisfy the usual assumptions but contain indifference curves with linear components (or flat spots). True/False: There...
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=+True/False: If a choice set is convex, then there will be a unique best bundle, assuming consumer tastes satisfy our usual assumptions and averages are strictly better than extremes.
=+then be multiple best bundles, but we can be sure that the set of best bundles is a convex set.
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=+Suppose that the choice set is defined by linear budget constraint and tastes satisfy the usual assumptions

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Microeconomics An Intuitive Approach With Calculus

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