We Assume That the Representative Consumer's Preferences Exhibit the Properties

question 90

Multiple Choice

We assume that the representative consumer's preferences exhibit the properties that

• A) they are convex and that more is always preferred to less.
• B) more is always preferred to less and that each consumer has one strictly favorite good.
• C) each consumer has one strictly preferred good and that consumption and leisure are both normal goods.
• D) consumption and leisure are both normal goods and that the consumer likes diversity in his or her consumption bundle.

---

Definitions:

Atrophy

The wasting away or decrease in size of an organ or tissue in the body due to disease, injury, or lack of use.

Brain Development

The process of growth and change in the brain's structure, function, and capacity throughout the lifespan.

Growth Expressed

The demonstration or manifestation of personal or developmental advancement, often visible through changes in behavior, abilities, or understanding.

Electrochemical Impulses

Electrical and chemical signals transmitted through neurons for communication within the brain and nervous system.