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TRUE or FALSE. (25 points) All credits are assigned to explanations. You need to provide adequate explanations to obtain any credit. (a) A consumer has

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TRUE or FALSE. (25 points) All credits are assigned to explanations. You need to provide adequate explanations to obtain any credit. (a) A consumer has strictly monotonic preferences that can be repre- sented by a. utility function. She chooses bundle A under certain prices and income. Furthermore, bundle A is cheaper than bundle B under those prices. If prices change and bundle B becomes more expensive than bundle A, it is possible for the consumer to choose bundle B instead

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