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Author Question: The revealed preference approach can provide more informative comparisons of market baskets if we ... (Read 88 times)

elizabeth18

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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


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cpetit11

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

D


elizabeth18

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Reply 2 on: Jul 1, 2018
Excellent

xoxo123

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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