About consumer preferences is violated in this scenario

Assignment Help Business Economics
Reference no: EM13833308

Which assumption about consumer preferences is violated in this scenario. Randy likes basketball more than football; football more than baseball; and baseball more than basketball.

A. transitivity

B. more is better

C. completeness

D. preference for variety

Reference no: EM13833308

Questions Cloud

Swiss government increases quotas on imports : Switzerland's national income (GDP) is growing dramatically compared to its trading partners, which will have an impact on Switzerland's balance of trade
Competition and the nature of competitive strategies : Select an article from any Australian news websites or newspapers(e.g. Financial Review, The Age, and Sydney Morning Herald). Ensure that the article you choose contains news/information/description about: (a) Competition and the nature of competitiv..
Suppose that income increases-income elasticity of movies : Suppose that Seth's income increases from $400 to $500 per week, causing Seth to increase his purchases of movies from 3 to 4. The income elasticity of movies is:
Several types of trust in supply chain collaboration : Question:Trust is hard to build but easy to break.  Companies have to keep on improving to continue to have the trust of the consumers and stock holders. a couple of decades ago Coke changed its formula and they lost  much profit and the trust of the..
About consumer preferences is violated in this scenario : Which assumption about consumer preferences is violated in this scenario. Randy likes basketball more than football; football more than baseball; and baseball more than basketball.
What about an environmental risk : 1) What about an environmental risk, can these be mitigated?  For example, what if a suppler over in Japan has an earthquake?Expanding a supply chain to the global level has many benefits. The added complexity of a global supply chain comes with addi..
Consumption bundles lies on the same indifference curve : Fisher's utility function for trout (T) and salmon (S) is given by U = ST, where the MUT = S and MUs = T. Which set of consumption bundles lies on the same indifference curve?
Mayan priests interest in astronomy led to the creation of _ : Mayan priests interest in astronomy led to the creation of ____
Analysts have estimated the present values : Analysts have estimated the present values of the following effects over the expected useful life of the pool: PV (million dollars) State grant: 2.2 Construction and maintenance costs: 12.5 Personnel costs: 8.2 Revenue from county residents: 8.6 Reve..

Reviews

Write a Review

Business Economics Questions & Answers

  What is the resulting level of output

What is the -maximing combination of labor and capital the firm should use? What is the resulting level of output? What is the economic profit? Is this the least costly way of of producing the profit-maximizing output?

  Using human capital theory elucidate what these dangers are

Using human capital theory elucidate what these dangers are. While there may be good reasons for heavily subsidizing university education, there are also some dangers in it.

  Explain the public policy lifecycle utilizing public policy

Explain the Public Policy Lifecycle utilizing a public policy Discuss how the importance of developing a viable Policy Adoption and what policy makers need to consider when adopting new or amending existing policies.

  Derive from first principles equilibrium level of income

Derive, from first principles, the equilibrium level of income. Derive the Keynesian expenditure multiplier. If T = tY, derive the equilibrium level of income.

  Elucidate which is more cost-effective

Elucidate which is more cost-effective. If the salary rate increased to $12 an hour, which would be more cost-effective.

  Range of production characterized by scale of economies

Is there any range of production characterized by scale of economies. At Illustrate what production level are scale economies exhausted.

  Elucidate how can tax cuts help revive the economy

Elucidate how can tax cuts help revive the economy. Write your individual answer to the question listed above minimum 300 words in essay format in APA style.

  Interests of stockholders and managers

Analyze how the different forces will come together to create a convergence between the interests of stockholders and managers.

  Role of the federal reserve in mitigating negative impact

Assess the role of the Federal Reserve in mitigating the negative impact of the 2008 financial meltdown on the economy.

  Why did not it win all of those contracts

Why would your company have bid with a zero mark-up on some past tenders? Why didn’t it win all of those contracts?

  Determined that the firm cost function

The market demand curve for this product is estimated to be: Q = 6009 – 25P where Q is the number of plate covers per year and P is in dollars. Cost estimation processes have determined that the firm’s cost function is represented by TC = 120 + ..

  Explain what occurs when a new technology makes another one

explain what occurs when a new technology makes another one obsolete in terms of economic profit. consider firm a to be

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd