Henry the Geek likes books (B) and computer games (C). We have
observed that he preferred the bundle (49,32) over (74,12), bundle
(36,40) over (52,34), and bundle (15,78) over (38,42). Assume that
his preferences satisfy the properties of completeness,
transitivity, and non-satiation. Show whether Henry prefers one
bundle over another, is indifferent, or you cannot tell.
(a) Does Henry prefer (17, 11) or (14, 9)?
(b) Does Henry prefer (37, 41) or (50, 34)?
(c) Does Henry prefer (74, 12) or (36, 40)?
(d) Does Henry prefer (20, 80) or (80, 20)?
(e) Does Henry prefer (16, 79) or (73, 10)?
Looking at Henry's preferences, it is clear that he prefers more of Computer games over more of Books.
A) (17,11) because 11 > 9
B) (37,41) because 41 > 34
C) (36,40) because 40 > 12
D) (20,80) because 80 > 20
E) (16,79) because 79 > 10
Henry the Geek likes books (B) and computer games (C). We have observed that he preferred...
Henry the Geek likes books (B) and computer games (C). We have observed that he preferred the bundle (49,32) over (74,12), bundle (36,40) over (52,34), and bundle (15,78) over (38,42). Assume that his preferences satisfy the properties of completeness, transitivity, and non-satiation. Show whether Henry prefers one bundle over another, is indifferent, or you cannot tell. please provide the details of the solution. thank you (a) Does Henry prefer (17, 11) or (14, 9)? (b) Does Henry prefer (37, 41)...