Suppose an indifference curve is positively sloped. Which assumption about the tastes is violated? Group of answer choicesCompletenessTransitivityMonotonicityConvexity

If the tastes of a consumer satisfy the assumption of transitivity, her indifference curves must:Group of answer choicesNot cross the axesHave a positive slopeNot cross one anotherBend toward the originAll of the above

Suppose two indifference curves intersect. Then, it is true that:Group of answer choicesthey may be the indifference curves of two consumers with different tastesthey may be the indifference curves of a consumer whose tastes violate the assumption of transitivityboth of the above are correctnone of the above is correct

Assume that a consumer's indifference curve is bowed inward and negatively sloped. As the consumer moves from left to right along the horizontal axis, the consumer's marginal rate of substitutionGroup of answer choicesincreases.decreases.increases, then decreases.remains constant.

Consider the utility function . Tastes represented by this utility function:Group of answer choicesviolate transitivityviolate monotonicityviolate convexitysatisfy all the 5 assumptions that we introduced about tastessatisfy only completeness and transitivity

Suppose the tastes of an individual are represented by the following map of indifference curves:Which of the following statements is correct?Group of answer choicesThis individual receives no satisfaction from good AFor this individual goods A and B are perfect complementsFor this individual goods A and B are perfect substitutesThis individual receives no satisfaction from good B