Please answer if the following are true or false: A convex utility function implies that the...

Please answer if the following are true or false:

A convex utility function implies that the Marginal Rate of Substitution is positive.

The law of demand does not work with inferior goods.

The water-diamond paradox was the central problem faced by the earlier philosopher-economists.

Expert Solution

Rahul Sunny answered 1 year ago

TRUE OR FALSE QUESTION please explain the reason briefly （few sentences is okay） Jon’s utility function...

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