What does the assumption that preferences are complete mean about the consumer's ability to rank any two
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (14 reviews)
By requiring preferences to be complete economists are ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Give an example of preferences (i.e., a ranking of baskets) that do not satisfy the assumption that preferences are transitive.
-
What does the assumption of no market frictions mean? Is this assumption true in current commodity markets?
-
Two special cases might result in indifference curves that look a little different from the ones discussed in the text. a. If two goods are perfect substitutes, that means the consumer would always...
-
Chambers Corporation purchased a piece of equipment for $36,000. It estimated a 6-year life and $6,000 salvage value. Thus, straight-line depreciation was $5,000 per year [($36,000 $6,000) 6]. At...
-
List and briefly explain the four steps performed during the logical design stage.
-
For 2020, Sherri has a short-term loss of $2,500 and a long-term loss of $4,750. a. How much loss can Sherri deduct in 2020? b. How much loss will Sherri carryover to 2021 and what is the character...
-
I was the youngest of five kids, and my older siblings always complain that I got away with a lot more than they did. Use the PewKids dataset to see if older parents check/block their kids more than...
-
On August 20, Mr. and Mrs. Cleaver decided to buy a property from Mr. and Mrs. Ward for $105,000. On August 30, Mr. and Mrs. Cleaver obtained a loan commitment from OKAY National Bank for an $84,000...
-
Mr. Faizan is the Head of Taxation of RX Limited. During the financial year 2019-20 he earned following income:Mr. Faizan received Taka 12,00,000 as cash salary out of which basic pay was 60%,...
-
A mass-transfer process is used to remove ammonia (NH 3 , solute A) from a mixture of NH 3 and air, using water as the absorption solvent. At the present conditions of operation, the partial pressure...
-
Suppose a consumer is currently purchasing 47 different goods, one of which is housing. The quantity of housing is measured by H. Explain why, if you wanted to measure the consumer's marginal utility...
-
Consider Figure 3.1. If the more is better assumption is satisfied, is it possible to say which of the seven baskets is least preferred by the consumer?
-
Clarksburg Bakery is trying to predict how many loaves to bake. In the past 100 days, they have sold between 95 and 140 loaves per day. Here is a histogram of the number of loaves they sold for the...
-
Identify a public conflict (such as a recent Congressional debate or even a celebrity breakup) that has come to the forefront in the media (or public's attention) in the last thirty days. You have...
-
Performance Management Issues You have been asked to return to your alma mater and speak to current students about performance management issues. To make the most of this experience for yourself and...
-
Analysis of competitor organization of our selected organization Walmart and its competitor Safeway. 1. Complete analysis of competitor organization; addresses all relevant factors and typically uses...
-
Defining Program Objectives of Youth centers Clearly define the objectives of your program or center. What specific outcomes do you hope to achieve? Examples may include promoting physical fitness,...
-
Identify a local or regional organization and analyze how they demonstrate servant leadership in their operations. You will want to review their website, social media, news, and other resources to...
-
Mr Alex Lim, your neighbor who works in a conventional bank, wants to know what is meant by asset-backed and asset-based sukuk. According to him, a well-known Sharia scholar has always maintained...
-
Should we separate the debt and equity features of convertible debt? Team 1: Pro separation: Present arguments in favor of separating the debt and equity features of convertible debt. Team 2: Against...
-
Real World Question. Based on the financial statements of The Coca-Cola Company contained in the annual report booklet, what was the 1996 Investment in Coca-Cola Enterprises, Inc., balance? According...
-
1. A change in demand causes a ____ (movement along/shift of) the demand curve. A change in quantity demanded causes a ______ (movement along/ shift of ) the demand curve. 2. Circle the variables...
-
1. A change in demand causes a ____ (movement along/shift of) the demand curve. A change in quantity demanded causes a ______ (movement along/ shift of ) the demand curve. 2. Circle the variables...
-
1. A change in demand causes a ____ (movement along/shift of) the demand curve. A change in quantity demanded causes a ______ (movement along/ shift of ) the demand curve. 2. Circle the variables...
-
ABC Company engaged in the following transaction in October 2 0 1 7 Oct 7 Sold Merchandise on credit to L Barrett $ 6 0 0 0 8 Purchased merchandise on credit from Bennett Company $ 1 2 , 0 0 0 . 9...
-
Lime Corporation, with E & P of $500,000, distributes land (worth $300,000, adjusted basis of $350,000) to Harry, its sole shareholder. The land is subject to a liability of $120,000, which Harry...
-
A comic store began operations in 2018 and, although it is incorporated as a limited liability company, it decided to be taxed as a corporation. In its first year, the comic store broke even. In...
Study smarter with the SolutionInn App