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Section 1: Preference Relations (4 points each) 1. Lilly's preferences are complete and locally nonsatiated. How many of the following properties must Lilly's preferences also

Section 1: Preference Relations (4 points each) 1. Lilly's preferences are complete and locally nonsatiated. How many of the following properties must Lilly's preferences also display? Monotonicity Transitivity Symmetry Convexity P B. ON-O

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