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

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

If there are only two goods, if more of good 1 is always preferred to less, and if less of good 2 is always preferred to more, then:Group of answer choicesindifference curves slope downwards.indifference curves slope upwards.indifference curves may cross.indifference curves could take the form of ellipses.

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

If a consumer is consuming both goods and the price of one of the goods rises, the consumer will experienceGroup of answer choicesa desire to consume a different bundle.a decrease in utility.a southwesterly movement on the indifference map.All of the above.