Quasi-Concavity of Utility Functions Insures That with Only Two Goods,these

question 4

Multiple Choice

Quasi-concavity of utility functions insures that with only two goods,these goods must be:

• A)gross substitutes.
• B)gross complements.
• C)net substitutes.
• D)net complements.

---

Definitions:

Methane Gas

A colorless, odorless flammable gas that is a major component of natural gas, used as a fuel and in the production of various chemicals.

Carbon Dioxide

A gas characterized by its lack of color and smell, produced when carbon and organic compounds burn, and during the respiration process, which plants absorb in photosynthesis.

Definite Proportions

A principle stating that a chemical compound always contains its component elements in fixed ratio by mass and does not depend on its source and preparation method.

Relative Masses

A concept referring to how the mass of one particle or object compares to another, often used in chemistry to discuss the atomic mass of elements relative to the carbon-12 standard.