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

question 40

Multiple Choice

Alvin's preferences for good X and good Y are shown in the diagram below. Figure 3.2
-Refer to Figure 3.2. 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
• E) both A and C