The Assumption That Preferences Are Complete Requires the Consumer

question 4

Multiple Choice

The assumption that preferences are complete requires the consumer:

• A)to rank any two baskets.
• B)to say that basket C is preferred to basket A if basket B is preferred to basket A and basket C is preferred to basket B.
• C)to rank a basket with more units of all goods higher than a basket with fewer units of all goods.
• D)to have a diminishing marginal rate of substitution.

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Definitions:

Epoxypentan-1-ol

An organic compound featuring a five-carbon chain with an epoxide ring (a three-membered ring consisting of an oxygen atom and two carbon atoms) and a hydroxyl group at the first carbon.

Hydroxyethyl

A functional group or moiety featuring an ethyl backbone attached to a hydroxyl group, often represented as -CH2CH2OH.

Oxirane

Another term for ethylene oxide, a three-membered cyclic ether (epoxide) with the formula C2H4O, used as an important industrial chemical and intermediate.

Bond Angle

The angle formed between two bonds at the atom where they meet, influencing the molecule's geometry.