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For Sarah, both goods in her consumption bundle are perfect substitutes. Which of the following statements are true: 1.Sarah's preference are monotonic 2.Sarah's preference are
For Sarah, both goods in her consumption bundle are perfect substitutes. Which of the following statements are true:
1.Sarah's preference are monotonic
2.Sarah's preference are moronic
3.Sarah's preference are convex
4.Sarah's preference are well-behaved
5.Sarah's preference are strictly convex
why 1 and 4 are not true?
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