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# 261 I prefer 6 apples and 1 orange to 5 apples and 2 oranges. My preferences a. b. c. d. arc transitive. arc complctc. arc convex. obey the Law of...

This question was created from Econ2300finalFall2011pt2ans https://www.coursehero.com/file/9959705/Econ2300finalFall2011pt2ans/

26. I prefer I5 apples and 1 orange tn 5 apples and 2 oranges. My preferences
a are transitive.
are enraplete. h.
e. are waves.
[1.
e. nhey the law of Demand.
Nnne of the above.

D - Obey law of demand This is the correct answer because Transitive refers to relationship resulting... View the full answer

• what if the options were ? a. are transitive. b. are complete. c. are convex. d. are monotonic. e. Do not have enough information.
• alsha141
• Oct 03, 2018 at 8:01pm
• D. monotonic, because they have "Monotony on apples". Monotonous preference infers that consumer will like one product more, Other choices do not apply because, Example of transitive is, if one likes oranges, mangoes and apple, then by transitivity they will prefer mangoes and apples (it is already in their preference) For convex, consumer will prefer averages, for monotonic,
• IFRSMASTER
• Oct 03, 2018 at 8:12pm

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