Joe prefers a three pack of soda to a six-pack. What properties does this prefer

Question

Joe prefers a three pack of soda to a six-pack. What properties does this preference violate?
a) Completeness.
b) Transitivity.
c) More is better.
d) Diminishing MRS.
e) All of the above.


How does a decrease in the price of good X affect the market rate of substitution between goods X and Y?
a) it increases.
b) it decreases.
c) remains unchanged.
d) indeterminable without more information.


Along the same indifference curve, MRS is
a) constant as more of one good is obtained.
b) increasing as more of one good is obtained.
c) decreasing as more of one good is obtained.
d) varying irregularly as more of one good is obtained.

Explanation / Answer

first one is C second one B third one is C answer

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