Which of the following is NOT an assumption regarding people's preferences in the theory of consumer behavior?
A) Preferences are complete.
B) Preferences are transitive.
C) Consumers prefer more of a good to less.
D) All of the above are basic assumptions about consumer preferences.
D
Economics
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Refer to the table above. The farmer increased his total production of corn by 9 bushels per acre after applying
A) the first bag of fertilizer. B) the second bag of fertilizer. C) the third bag of fertilizer. D) the fourth bag of fertilizer.
Economics
Refer to Figure 4-3. What area represents the deadweight loss at P2?
A) G + H B) C + E + H C) C + E D) B + C
Economics