Question

Draw a convex preference relation that is locally nonsatiated but is not monotone. Please also explain...

Draw a convex preference relation that is locally nonsatiated but is not monotone. Please also explain what parts of the graph accomplish these requirements.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
2. Assume a consumer has as preference relation represented by u(x1; x2) = ax1 + bx2...
2. Assume a consumer has as preference relation represented by u(x1; x2) = ax1 + bx2 with x 2 C = R2 +; and a; b > 0: Answer the following: a. Show the preference relation this consumer is convex and strictly monotonic. b. Graph the indiference curves for this consumer c. Compute the MRS between good 1 and good 2, and explain why it coincides with the slope of an indiference curve. d. Characterize the demand functions/correspondences for this...
Can some one please explain Anti-Monotone Property in simple english!
Can some one please explain Anti-Monotone Property in simple english!
what is required to sell handmade or locally manufactured products to the international market (eg, licenses,...
what is required to sell handmade or locally manufactured products to the international market (eg, licenses, approvals, legal health and such)?? Please explain, No handwriting please also Unique
Draw and explain temperature dependence of relation of thermal and electrical conductivity for real metals
Draw and explain temperature dependence of relation of thermal and electrical conductivity for real metals
Discrete Math Course 3. Decide and explain whether or not S is an equivalence relation on...
Discrete Math Course 3. Decide and explain whether or not S is an equivalence relation on Z , if ??? ??? 3 ??????? ?+2? 4. Find the transitive closure of the relation ?={(?,?),(?,?),(?,?),(?,?),(?,?)} on the set ?={?,?,?,?,?}. Draw a directed graph of ? (not its closure). 5. Decide and explain whether or not the set ?={?/4∶?∈?} is a countable
Please explain the 3 categories of risk preference and which category applies to the average investor....
Please explain the 3 categories of risk preference and which category applies to the average investor. ( write it by text please)
A) Draw a graph showing the quantitative relation between the amount of glucose in the plasma...
A) Draw a graph showing the quantitative relation between the amount of glucose in the plasma vs. the amount of glucose absorbed in the kidney B) Thinking about the graph just above, what factor(s)s do you think might be affected in an individual who has diabetes, and why?
What are the equivalence classes for the relation congruence modulo 6? Please explain in detail.
What are the equivalence classes for the relation congruence modulo 6? Please explain in detail.
When the business fails and assets are being divided, who receives first preference? Please explain?
When the business fails and assets are being divided, who receives first preference? Please explain?
Please clearly label each statement True or False and explain your reasoning. a) Revealed preference techniques...
Please clearly label each statement True or False and explain your reasoning. a) Revealed preference techniques can be used to estimate non-use value (e.g., existence value). b) Unlike revealed preference techniques, stated preference techniques are immune to “behavioral” phenomena (e.g., hyperbolic discounting). c) Revealed preference and stated preference techniques should be used jointly when possible.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT