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Use the following two statements to answer this question: I.According to the three basic assumptions ...

nakungth

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Use the following two statements to answer this question: I.According to the three basic assumptions ...

Use the following two statements to answer this question:
I. According to the three basic assumptions regarding people's preferences, a person will always prefer to earn a living through honest work rather than a life of crime.
II. When we say that preferences are complete, we mean that if a consumer prefers market basket A to market basket B, and prefers market basket B to market basket C, then the consumer prefers market basket A to market basket C.
A) Both I and II are true.
B) I is true and II is false.
C) I is false and II is true.
D) Both I and II are false.

Textbook

Microeconomics

Edition: 8^th

Author: Pindyck

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nakungth Author

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