12. If indifference curves cross, then: (a) the assumption of a diminishing marginal rate of substitution is violated. (b) the assumption of transitivity is violated. (c) the assumption of completeness is violated. (d) consumers minimize their satisfaction. (e) all of the above
12. If indifference curves cross, then: (a) the assumption of a diminishing marginal rate of substitution is violated. (b) the assumption of transitivity is violated. (c) the assumption of completeness is violated. (d) consumers minimize their satisfaction. (e) all of the above
Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 1.3P
Related questions
Question
12. If indifference
(a) the assumption of a diminishing marginal rate of substitution is violated.
(b) the assumption of transitivity is violated.
(c) the assumption of completeness is violated.
(d) consumers minimize their satisfaction.
(e) all of the above
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![ECON MICRO](https://www.bartleby.com/isbn_cover_images/9781337000536/9781337000536_smallCoverImage.gif)
![ECON MICRO](https://www.bartleby.com/isbn_cover_images/9781337000536/9781337000536_smallCoverImage.gif)