The theory of consumer behavior is based on certain assumptions. The set of four basic assumptions includes:
A) completeness.
B) transitivity.
C) intransitivity.
D) Both A and B are correct.
E) Both A and C are correct.
D
Economics
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Refer to Figure 4.1. Suppose Alvin chooses Top, while Simon chooses Down, and Theodore chooses Left. Theodore's payoff will be
A) 4. B) 6. C) 14. D) 24.
Economics
If a budget deficit as a percent of GDP is greater than the growth of real output, the national debt will
a. decrease relative to the size of the economy. b. decrease in nominal terms. c. increase in nominal terms but decrease relative to the size of the economy. d. increase relative to the size of the economy.
Economics