Turn on thread page Beta
    • Thread Starter

    Can someone please help with this question getting so stuck - never studied economics before and I decided to take it on my year abroad (in a different language)

    For each case, are the preferences rational (complete and transitive) and monotonic? Why?
    a) John is indifferent between the bundles (1,6), (6,1) and (5,5)
    b) Suzan prefers (6,1) to (4,4) and (4,4) to (1,6)
    c) Michael prefers (2,3) to (1,8) and is indifferent between (1,8) and (4,4) Thank you!
Submit reply
Turn on thread page Beta
Updated: October 14, 2017
Do you think parents should charge rent?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.