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Author Question: If an individual's utility function is quasi-concave, his or her MRS will: a. diminish as x is ... (Read 68 times)

saraeharris

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on: Jul 1, 2018
If an individual's utility function is quasi-concave, his or her MRS will:
 a. diminish as x is substituted for y.
  b. increase as x is substituted for y.
  c. be undefined except in special cases.
  d. always depend only on the ratio of x to y.

Question 2

Buyers anticipate that the temporary warehouse seller of unbranded computer equipment will
 a. deliver high quality products consistent with expectations
  b. not attempt to establish any warranty enforcement mechanisms
  c. offer several prices and qualities
  d. produce only one quality
  e. none of the above


Ksanderson1296

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

a

Answer to Question 2

d


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