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Consider the assumptions about preferences and well-behaved indifference curves. List the 3 assumptions about preferences, and for each briefly...

Consider the assumptions about preferences and well-behaved indifference curves.


A. List the 3 assumptions about preferences, and for each briefly explain why they are logical.


B. List the 3~4 properties of (well-behaved) indifference curves, and explain their intuition.

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Consumer preferences can be defined as a set of assumptions that tend to focus on the consumer choices.These choices tend to... View the full answer

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