Question

omplete the following table by identifying which assumption each given scenario references. (Note: The scenario might be an example or a iolation of the assumption.) Assumption Complete Tastes Transitive Tastes Monotonicity Convexity Continuity Scenario Nick likes only two sugars in his coffee. If he accidentally spills a few drops of sugar from one pack, he becomes extremely unhappy When asked which style of shoes she likes better, Janis was unable to decide between sneakers and boots, but she claims she is not indifferent betweern them Albert likes apples more than bananas and bananas more than grapefruit. When faced with a choice between apples and grapefruit, he chooses apples as expected Your sister would prefer to have twice as many shoes and dresses than what she currently has, but that is unlikely to happen with her current income Winona prefers to purchase either just gold or silver jewelry, rather than a mix, so that it's easier to coordinate her outfits with her jewelry

Answer 1

A. Complete taste

As Nick's preferences are inclined towards only one bundle.

B. Continuity

There are so sudden jumps

C. Transitive tastes

As bundle A is preferred over B, B is preferred over C, A is preferred over C

D. monotonicity

As more is better

E. Convexity

Averages (gold and silver) are better than extremes