If Jane is currently willing to trade 4 movie tickets for 1 basketball ticket, then she must like basketball better than movies. This statement is A. not necessarily true if Jane's willingness to trade basketball for movies does not change. B. not necessarily true if Jane's willingness to trade movies for 1 basketball ticket depends on how many basketball tickets and movie tickets she currently has. OC. not necessarily true unless Jane has convex preferences. O D. true because Jane is always willing to trade 4 movie tickets for 1 basketball ticket. OE. true because Jane has a diminishing marginal rate of substitution.

If Jane is currently willing to trade 4 movie tickets for 1 basketball ticket, then she must like basketball better than movies. This statement is A. not necessarily true if Jane's willingness to trade basketball for movies does not change. B. not necessarily true if Jane's willingness to trade movies for 1 basketball ticket depends on how many basketball tickets and movie tickets she currently has. OC. not necessarily true unless Jane has convex preferences. O D. true because Jane is always willing to trade 4 movie tickets for 1 basketball ticket. OE. true because Jane has a diminishing marginal rate of substitution.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section6.A: Indifference Curve Analysis

Problem 2SQP

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