Two of the assumptions about preferences are that they are transitive over consumption bundles

Describe a time when someone tried to persuade you to change a belief, buy a product or take a specific action,
September 11, 2020
The purpose of this paper is to combine the theoretical (conceptual)
September 11, 2020
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Two of the assumptions about preferences are that they are transitive over consumption bundles

ECONOMICS 110/111Assuming that he is rational

ECONOMICS 110/111Assuming that he is rational

Question

Is this statement True, False, or Uncertain? Explain why.

The statement is:

ECONOMICS 110/111Assuming that he is rational, Ian’s indifference curves cannot cross. [Hint: Two of the assumptions about preferences are that they are transitive over consumption bundles, and that consumption bundles with more of at least one good and no less of the other are preferred.]

ECONOMICS 110/111Assuming that he is rational

 

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