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Author Question: A consumer satisfies the condition MU x/ P x= MU y/ P ywhen his indifference curve ________ his ... (Read 152 times)

student77

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on: Apr 19, 2019

Question 1

Toby tells you that he prefers hamburgers to hot dogs, hot dogs to tacos, and hamburgers to tacos. This violates what assumption made when analyzing consumer preferences?


◦ that more is better
◦ that there is a diminishing marginal rate of substitution
◦ that consumers are rational
◦ This does not violate any assumptions relating to consumer preference.

Question 2

A consumer satisfies the condition 
MU
x/
P
x = 
MU
y/
P
y when his indifference curve ________ his budget constraint.


◦ is completely above
◦ is completely below
◦ is just tangent to
◦ crosses
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by student77 on Apr 19, 2019

emily12345

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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student77

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Reply #2 on: Apr 19, 2019
Excellent


emily12345

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Reply #3 on: Apr 19, 2019
Great! Please up vote :D


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