Feedback See Hint Which of the following assumptions on preferences leads to an interior solution to the consumer choice problem (i.e., one in which the optimal consumption choice involves some of each good)? Classify each case as: Definitely YES (an interior solution is certain) Definitely NO (an interior solution is impossible) or Possible (an interior solution might happen) Items (8 items) (Drag and drop into the appropriate area below) No more items 12 OF 20 QUESTIONS COMPLETED < 13/20 > C TRY AGAIN Categories Definitely YES perfect complements strictly convex preferences Definitely NO a good and a bad strictly concave preferences Possible concave preferences perfect substitutes discrete goods convex preferences 12 OF 20 QUESTIONS COMPLETED < 13/20 > C TRY AGAIN
Feedback See Hint Which of the following assumptions on preferences leads to an interior solution to the consumer choice problem (i.e., one in which the optimal consumption choice involves some of each good)? Classify each case as: Definitely YES (an interior solution is certain) Definitely NO (an interior solution is impossible) or Possible (an interior solution might happen) Items (8 items) (Drag and drop into the appropriate area below) No more items 12 OF 20 QUESTIONS COMPLETED < 13/20 > C TRY AGAIN Categories Definitely YES perfect complements strictly convex preferences Definitely NO a good and a bad strictly concave preferences Possible concave preferences perfect substitutes discrete goods convex preferences 12 OF 20 QUESTIONS COMPLETED < 13/20 > C TRY AGAIN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Feedback
See Hint
Which of the following assumptions on preferences leads to an interior solution to the consumer choice problem (i.e., one in which the
optimal consumption choice involves some of each good)? Classify each case as:
Definitely YES (an interior solution is certain)
Definitely NO (an interior solution is impossible)
or
Possible (an interior solution might happen)
Items (8 items) (Drag and drop into the appropriate area below)
No more items
12 OF 20 QUESTIONS COMPLETED
< 13/20 >
C TRY AGAIN
Transcribed Image Text:Categories
Definitely YES
perfect complements
strictly convex preferences
Definitely NO
a good and a bad
strictly concave preferences
Possible
concave preferences
perfect substitutes
discrete goods
convex preferences
12 OF 20 QUESTIONS COMPLETED
< 13/20 >
C TRY AGAIN
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