The Assumption of Transitive Preferences Implies That Indifference Curves Must

question 64

Multiple Choice

The assumption of transitive preferences implies that indifference curves must:

• A) not cross one another.
• B) have a positive slope.
• C) be L-shaped.
• D) be convex to the origin.
• E) all of the above

---

Definitions:

Test Statistic

A calculated value from sample data used to make decisions in hypothesis testing, determining how far an observed statistic deviates from what is expected.

Statistical Procedure

A method or technique used for collecting, analyzing, interpreting, and presenting data.

T Value

A statistic calculated in a T-test that determines the significance of the difference between two groups' means.

Test Statistic

A value calculated from sample data during hypothesis testing. It is used to decide whether to reject the null hypothesis.