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Author Question: Denise is shopping for lobsters and eclairs. When she faces budget line b1, she chooses market ... (Read 77 times)

P68T

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on: Jul 1, 2018
Denise is shopping for lobsters and eclairs. When she faces budget line b1, she chooses market basket A over market basket B. When she faces budget line b2, she chooses basket B over basket C.
 
  Which assumption of consumer theory helps us determine Denise's preference ordering over basket A and basket C? A) Completeness
  B) More is better than less
  C) Transitivity
  D) Convexity

Question 2

Refer to Figure 9.2. At price 0E and quantity Q, consumer surplus is the area
 
  A) 0FCQ.
  B) AFC.
  C) EFC.
  D) AEC.
  E) none of the above


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leeeep

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

C

Answer to Question 2

C


P68T

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

tkempin

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Reply 3 on: Yesterday
Gracias!

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