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Author Question: Refer to Figure 3.1. Which assumption concerning preferences do Alvin's indifference curves violate? ... (Read 86 times)

bobbie

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on: Jul 1, 2018
Refer to Figure 3.1. Which assumption concerning preferences do Alvin's indifference curves violate?
 
  A) Diminishing marginal rates of substitution
  B) Transitivity of preferences
  C) More is preferred to less
  D) Completeness

Question 2

Although the U. S. airline industry has only a relatively small number of sellers, the market is nevertheless highly competitive. The reason is that:
 
  A) the number of buyers is very large.
  B) due to fierce competition, no firm has significant control over prices.
  C) due to fierce competition, no firm has significant control over the quantity supplied.
  D) most airline routes are served by relatively many sellers.


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samiel-sayed

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

A

Answer to Question 2

B


bobbie

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Reply 2 on: Jul 1, 2018
Gracias!

blakcmamba

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Reply 3 on: Yesterday
:D TYSM

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