In: Economics
Answer (1): Bundle C will be strictly preferred to bundle D if c1>d1 and c2>d2.
Answer (2): Bundle C will be indifferent to bundle D if c1>d1 and c2<d2.
Answer (3): These preferences are weakly incomplete, as these do satisfy some other situations such as what will happen when c1=d1 or c2=d2, or c1<d1 and c2>d2.
Answer (4): The preference are reflexive, as they reflects the nature of c1 and d1. These preferences do not interfere.
Answer (5): No, these preferences are not strongly complete, as they do inform as to what will happen when c1=d1 or c2=d2, or c1<d1 and c2>d2.
Answer (6) : These preferences are transitive, as they safely keep distance from each other and do not get intermixed.
Answer (7): The preferences are rational, as they explain logical and true nature of c and d or a and b
Answer (8): Since, these preferences give us the information of one type, i.e. who is greater than who, or who is lesser than who, therefore these information are all of one type. Hence they are monotonous in nature.
Answer (9): Convex nature implies that the preferences are bounded in a certain group or collection of ideas. Since all these preferences are of one type and monotonous, they can be grouped under one collection, i.e. who is greater than who or who is lesser than whom. Hence these are also convex in nature.
Answer (10): Continuous preferences are always of one nature or one type such as a>b, b>c, c>d etc. Here, these preferences are not continuous because they also show pattern where b>c or c>d. Therefore these preferences are not continuous.