Evaluate why only the convexity of preference relation, Ask an Expert

Economics

Evaluate why only the convexity of preference relation cannot guarantee that the indifference curve is strictly convex to the origin?
2)Suppose a consumer can allocate his income between any number of goods. Does it make sense for a consumer to buy that quantity of any one good that will maximize his utility for that good?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9280377

Have any Question?Write your Review or question?

Related Questions in Business Economics

How was stephen colberts cbs debut on the late show nielsen

How was Stephen Colbert's CBS debut on the Late Show? Nielsen Ratings claimed that at least 4% of young adults watched his premier week. Suppose a survey of 1,056 young adults found that 3.90% watched. Does this disprove ...

Draw supply and demand curve to illustrate the following

Draw supply and demand curve to illustrate the following sequences of events. Show changes in one graph. Assume upward sloping for supply curves and downward sloping for demand curves 1. In year 1, the rental apartment m ...

What are the effects of changes in aggregate demand ad

What are the effects of changes in Aggregate Demand (AD) according to Keynesian Economic Theory? What is the role of the government in Keynesian economic theory? How does it differ from Classical and Neoclassical Economi ...

Each of 30 teams in a league has a demand for generic

Each of 30 teams in a league has a demand for generic advertising of Q = 260 - 4P. Price is measured in thousands of dollars. Ads cost $510,000 each. How many ads will the teams want to purchase as a group?

A farmer wants to test the effectiveness of a pest control

A farmer wants to test the effectiveness of a pest control method in allowing strawberry blooms to yield marketable strawberries. In a pilot study of a random sample of 100 blooms, 77 yield marketable strawberries. What ...

What does an increase in the savings rate do for a countrys

What does an increase in the savings rate do for a country's output? Why doesn't every country do that?

Assume the following for the town of boone it has a total

Assume the following for the town of Boone: it has a total population of 40,000 people, of which 1,000 are under 16 years of age or are institutionalized; 8,000 are full-time students who are not employed and are not see ...

You spoke with seven people you know and found that they

You spoke with seven people you know and found that they went out 2, 0, 1, 5, 0, 2, and 3 times last week. You then would choose to calculate a 95% (or another level) confidence interval for the population mean.

Practical exercise 1assume the demand for teachers ld in a

Practical Exercise 1: Assume the demand for teachers (Ld) in a school is given by the following equation: W = 1700 - 2L D and the supply of teachers (L S ) depends on whether the school is a public school or private sch ...

In this question you need a z table and then you can get

In this question you need a Z table and then you can get all answers? You have a normal distribution with a mean of 90 and a standard deviation of 7. If appropriate, calculate the following probabilities: What is: Probab ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert