There Is an Indifference Curve Through Every Bundle Because of the Assumption

question 106

Multiple Choice

There is an indifference curve through every bundle because of the assumption of

• A)transitivity.
• B)completeness.
• C)rationality.
• D)nonsatiation.

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Definitions:

Holder in Due Course

A legal term referring to a person who has acquired a negotiable instrument in good faith and for value, and thus has certain protections against defenses and claims that could be raised by prior parties.

Transfer Warranties

Guarantees provided by a seller to a buyer regarding the condition and legality of the item or property being transferred.

Endorsement

The act of signing one's name on the back of a financial instrument, such as a check, thereby transferring rights or title to another party.

Payee

The party that receives the benefit of an order (check, etc.).