Indifference curves that are upward-sloping violate
A) the assumption of transitivity.
B) the assumption of completeness.
C) the assumption that more is better.
D) none of the assumptions.
C
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Assume that a firm has $100 million in real assets and $90 in real liabilities. If the price level rise by ten percent, the real value of its assets would ________
A) fall B) rise C) change, but more information must be provided to determine their exact movement D) remain unchanged
The MPP of capital is defined as the
a. change in total output divided by the change in loanable funds b. change in loanable funds divided by the change in total output c. contribution of loanable funds to the final product d. change in total cost attributed to employing one more unit of loanable funds e. change in output generated by employing one more unit of loanable funds
In the basic income-expenditures diagram, what will occur if the price level rises?
A. There will be movement to the left on the expenditure line. B. There will be movement to the right on the expenditure line. C. The expenditure schedule will shift down. D. The expenditure schedule will shift up.
Which of the following examples would most likely be the least elastic?
a. hockey sticks b. tennis racquets c. sports equipment d. baseball bats