The Completeness Assumption Implies That

question 19

Multiple Choice

The completeness assumption implies that:

• A)indifference curves are convex.
• B)the individual is indifferent between all bundles.
• C)indifference curves are smooth.
• D)any two points in the x - y space can be ranked.

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Definitions:

Fallacy

An incorrect argument in logic and rhetoric resulting in a lack of validity, or more generally, an error in reasoning.

Lemon Trees

Perennial plants known for producing lemons, characterized by their citrus fruit and aromatic leaves.

Post Hoc

A logical fallacy that implies a cause and effect relationship simply because one event follows another in time.

Fallacy

A misleading or unsound argument or reasoning pattern that is incorrect logically but appears to be correct.