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

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Definitions:

Dual Capacity

Refers to a situation where an entity or person functions in more than one role or capacity, often leading to different sets of responsibilities and rights.

Principals

The main parties involved in a business transaction or agreement, usually responsible for entering into a contract.

Agent

An individual or entity authorized to act on behalf of another (the principal) in transactions or other matters.

Duty Of Obedience

The requirement for directors and officers of an organization to act in accordance with its goals and directives.