Question
1.For each of the following statements about consumer preferences, (i.) Indicate which standard assumption about preferences is violated; and (ii.) Explain (in words and/or graphically)
1.For each of the following statements about consumer preferences, (i.) Indicate which standard assumption about preferences is violated; and (ii.) Explain (in words and/or graphically) how the consumer's indifference curves will differ from typical ones. (3 points each)
a.Bethany prefers Cozumel to Cancn and prefers Cabo to Cozumel; she also prefers Canc n to Cabo.
b.Ryan is an avid fan of Michigan State University (go State!), so he considers University of Michigan t-shirts a "bad" and Spartans (Michigan State) t-shirts a "good."
c.When Leia gets more lightsabers, she is more willing to give up other toys to get even more lightsabers.
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