Alvin's Preferences for Good X and Good Y Are Shown

question 120

Multiple Choice

Alvin's preferences for good X and good Y are shown in the diagram below. Figure 3.1
-Refer to Figure 3.1. Which assumption concerning preferences do Alvin's indifference curves violate?

• A) Diminishing marginal rates of substitution
• B) Transitivity of preferences
• C) More is preferred to less
• D) Completeness

---

Definitions:

Data

Information and figures compiled for analyzing or referring.

Y-intercept

The point where a line crosses the y-axis of a graph, reflecting the value of the dependent variable when the independent variable is zero.

Regression Equation

A mathematical formula used to predict a dependent variable based on one or more independent variables, illustrating the relationship between them.

Y-Intercept

The point where a line crosses the Y-axis of a graph, representing the value of the dependent variable when all independent variables are zero.