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Define the following properties regarding the preferences of a consumer: a . Completeness (5 pts) b . Reflexivity (5 pts) c. Transitivity (5 pts) d.

Define the following properties regarding the preferences of a consumer:

a. Completeness (5 pts)

b. Reflexivity (5 pts)

c. Transitivity (5 pts)

d. Monotonicity (5 pts)

e. Convexity (5 pts)

f. Well-behaved preferences (5 pts)

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