Answer each of the following statements True/False/Uncertain.
Give a full explanation of your answer including graphs where
appropriate. (When in doubt, always include a fully labeled
graph.)A) Consider the following three consumption bundles
(X1,X2)=(10,10) ; (X1,X2)=(15,10) ; (X1,X2)=(3000,8). Non-satiation
implies that (15,10) is preferred to (10,10) but does not imply
that (3000,8) is preferred to (10,10).B) It is not theoretically possible for two indifference curves
to cross if the preference relations they are based on satisfy the
assumptions of completeness,...