The absolute value of mars mrs at his current consumption, Ask an Expert

Economics

The absolute value of Mars' MRS at his current consumption bundle is strictly greater than 2. Mars has convex preferences. Which of the following statements is (are) true? Justify your answer graphically.

1. Taking away some of good 1 and giving Mars 2 units of good 2 for each unit of good 1 taken away will necessarily make him worse o.

2. Taking away some of good 1 and giving Mars 2 units of good 2 for each unit of good 1 taken away will necessarily make him better o.

3. Giving Mars some of good 1 and taking away 2 units of good 2 for each unit of good 1 he is given will necessarily make him worse o.

4. Giving Mars some of good 1 and taking away 2 units of good 2 for each unit of good 1 he is given will necessarily make him better o.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91523293

Have any Question?Write your Review or question?

Related Questions in Business Economics

What is the result of a price ceiling and why do some

What is the result of a price ceiling? And why do some consumers tend to favor price ceilings and others tend to oppose it?

Consider the following cournot oligopolythere are two

Consider the following Cournot oligopoly: There are two identical firms in the industry, which set their quantities produced simultaneously. The two firms face a market demand curve, Q = 120 - P, in which Q = q1 + q2. Ea ...

What is the difference between a linear quadratic and cubic

What is the difference between a linear, quadratic, and cubic regression analysis? Please provide a reference.

An urn contains 5 red and 10 blue balls balls are drawn

An urn contains 5 red and 10 blue balls. Balls are drawn sequentially from urn without replacement. Let X be the number of draws necessary in order to obtain exactly 4 red balls. Find probability mass function of X

How technology government regulations international

How technology, government regulations, international factors, expectations about the future, and the macroeconomy play a role in managerial decision-making? Carefully explain each by giving example.

A medical researcher is interested in determining whether a

A medical researcher is interested in determining whether a new medication for lung cancer is effective in a group of patients with early-stage disease. Explain what a Type I and Type II error would be in this study. (Be ...

Model this situation using a game tablehawk and dovenbsptwo

Model this situation using a game table. Hawk and Dove: Two animals are fighting over some prey. Each can be passive or aggressive. Each prefers to be aggressive if the other is passive, and passive if the other is agg ...

Scores on a new version of the miller analogies test mat

Scores on a new version of the Miller Analogies test (MAT) taken during college students' senior year are correlated with their grades in graduate school two years later. The MAT correlated with GPA is .49. Which one is ...

In a random sample of 100 college student 60 were females

In a random sample of 100 college student 60 were females, 65 were under 21 years of age and 15 males were 21 years of age or older, a student is selected at random from the sample. What is the probability that a female ...

A study sample was done regarding the association between

A study sample was done regarding the association between family history and the risk of developing AD. Exposure were family history of AD and no family history of AD. Outcomes were development of AD or no development of ...

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