If a consumer prefers apples to bananas and prefers bananas to citrus fruit, in order to satisfy assumptions about preferences she has to prefer
A) bananas to apples.
B) citrus fruit to bananas.
C) apples to citrus fruit.
D) citrus fruit to apples.
C
You might also like to view...
If you put a $20 bill in the pocket of your winter coat at the beginning of spring so that you will be surprised when you find it again next winter, you are using money as:
A. bank reserves. B. a medium of exchange. C. a store of value. D. a unit of account.
In profit centers
a. Managers are difficult to evaluate because there is no simple metric of how well they performed b. Managers typically do not have the information to run their division efficiently c. Managers' decisions can affect other divisions d. Managers typically do not have the incentives to run their division efficiently
Resources are
a. scarce for households but abundant for the whole economy b. abundant for households but scarce for the whole economy c. scarce for households and scarce for the whole economy. d. abundant for households and the whole economy.
Common resources have which of the following characteristics?
a. Nonexcludable and rivalrous b. Nonexcludable and nonrivalrous c. Excludable and rivalrous d. Excludable and nonrivalrous