Author Question: The revealed preference approach can provide more informative comparisons of market baskets if we ... (Read 81 times)

elizabeth18 · **on:** Jul 1, 2018

The revealed preference approach can provide more informative comparisons of market baskets if we also assume that the consumer's indifference curves are:

A) concave.
B) convex.
C) incomplete.
D) intransitive.

Question 2

The price of good A goes up. As a result, the demand for good B shifts to the left. From this we can infer that:

A) good A is used to produce good B.
B) good B is used to produce good A.
C) goods A and B are substitutes.
D) goods A and B are complements.
E) none of the above