This topic contains a solution. Click here to go to the answer

Author Question: The revealed preference approach can provide more informative comparisons of market baskets if we ... (Read 87 times)

elizabeth18

  • Hero Member
  • *****
  • Posts: 559
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



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cpetit11

  • Sr. Member
  • ****
  • Posts: 321
Answer to Question 1

B

Answer to Question 2

D




elizabeth18

  • Member
  • Posts: 559
Reply 2 on: Jul 1, 2018
Gracias!


nanny

  • Member
  • Posts: 313
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

For a complete list of videos, visit our video library