2. (Figure 4.3) Which of the following statements is FALSE? Baskets of tomatoes I 10- 7.85 6 4.89 4 1.76 = 0 A B C 4 1.47 3.26 5.05 D 6 8 6.53 • U₂ U₁ 10 Bags of carrots Oa. Bundle C is preferred to bundle D. Ob. Bundle A is preferred to bundle C. Oe. Indifference curve U₂ provides a higher level of utility than indifference curve U₁. Od. The consumer is indifferent between bundle A and bundle D.

2. (Figure 4.3) Which of the following statements is FALSE? Baskets of tomatoes I 10- 7.85 6 4.89 4 1.76 = 0 A B C 4 1.47 3.26 5.05 D 6 8 6.53 • U₂ U₁ 10 Bags of carrots Oa. Bundle C is preferred to bundle D. Ob. Bundle A is preferred to bundle C. Oe. Indifference curve U₂ provides a higher level of utility than indifference curve U₁. Od. The consumer is indifferent between bundle A and bundle D.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter3: Preferences And Utility

Section: Chapter Questions

Problem 3.4P

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9 True or False Explain If preference is monotonic but not strongly monotonic, indifference curves are upward sloping but may have flat portions
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