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In: Economics

Chloe likes to read Latin American fiction: Fuentes, Vargas Llosa, Garcia Marquez, Carbajal, you name it....

Chloe likes to read Latin American fiction: Fuentes, Vargas Llosa, Garcia Marquez, Carbajal, you name it. Though she prefers longer novels than shorter ones, she sometimes has trouble telling books apart. In particular, she is indifferent between any two novels that have the same number of pages. But she also is indifferent between two novels when the difference in the number of pages is greater than ten (> 10) and less than twenty (< 20).

  1. (a) Is Chloe’s strict preference relation complete and transitive? Explain or give a counterexample.

  2. (b) Is Chloe’s indifference relation complete and transitive? Explain or give a counterexample.

  3. (c) Is Chloe’s weak preference relation complete and transitive? Explain or give a counterexample.

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Expert Solution

Rahul Sunny answered 1 year ago
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