According to the assumption of consumer rationality, a consumer who prefers one head of broccoli to one head of cauliflower, one head of cauliflower to one package of brussel sprouts, and one
a. package of brussel sprouts to one head of cabbage, must prefer a head of cabbage to a head of cauliflower
b. package of brussel sprouts to one head of cabbage, must prefer a head of broccoli to any other vegetable
c. package of brussel sprouts to one head of cabbage, must prefer a package of brussel sprouts to a head of cauliflower
d. package of brussel sprouts to one head of cabbage, must prefer a head of cauliflower to a head of cabbage
e. head of cabbage to one package of brussel sprouts, must prefer the package of brussel sprouts to a head of broccoli
D
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Use the following balance sheet for the First Federal Bank to answer the next question. AssetsLiabilities + Net WorthReserves$60,000Checkable deposits$300,000Loans140,000Stock shares200,000Securities60,000 Property200,000 If First Federal Bank can make no additional loans, then the monetary multiplier is
A. 5.00. B. 6.67. C. 3.00. D. 4.00.
Based on the above production data table for Ken's Pizza Parlor, we know that the average product of labor curve begins to decrease after hiring worker ________
A) 1 B) 2 C) 3 D) 4
The income elasticity for most staple foods, such as wheat, is known to be between zero and one
a. As incomes rise over time, what will happen to the demand for wheat? b. What will happen to the quantity of wheat purchased by consumers? c. What will happen to the percentage of their budgets that consumers spend on wheat? d. All other things equal, are farmers likely to be relatively better off or relatively worse off in periods of rising incomes?
What is marginal cost pricing? Why is marginal cost pricing important?
What will be an ideal response?