1)
Let us consider a preference relation of "a shape fitting into another shape".
Let us say we have three elements - {small circle, medium triangle, large triangle}.
Small circle fits into the medium triangle, and medium triangle fits into the large triangle implying that small circle also fits into the large triangle, thus transitivity is satisfied.
But now suppose we have a large circle instead of small one. It is quite possible that it won't fit into large triangle but the medium triangle still fits into both. Hence completeness is not satisfied since we don't have well defined relation between every element. Following diagram illustrates this further -
By: W & L INTERMEDIATE MICROECONOMICS PROFESSOR A. JOSEPH GUSE
2)
Consider the popular game - Rock, Paper, Scissor where Rock beats scissor, scissor beats paper but paper beats rock. Due to the cyclic nature, the game is intransitive. It is complete relation though, since between any two elements of a pair, we always know which one is preferred.
Problem 1 Provide a real life or a numerical example for cach of the following two...
Provide a real-life non-numerical example of a set E and a set F such that E and F are non-empty, not equal to each other, and have common elements in the intersection E F. Then provide a detailed description of the following sets using proper set notation. E F Ec E – F F – E
will leave a like thank you Discussion Question - Provide a real-life examples, definitions and numerical calculations and relationship of variables involved in the gas laws that you have learned in this chapter 1. Boyles AND 2. Charles
Problem 2: Haley's Comet (A Real Life Example): Important: for this problem, complete all numerical work to a precision of at least six significant digits. Specifically: use the following precise values for astronomical constants: • Mass of the Sun = 1.98855 x 1030 kg • 1 AU = 149,597,870,700 meters . G=6.67384 x 10-11 N·m²/kg? Neptune Uranus Saturn Jupiter 05 2000 2005 2000----1995 2010 19921989 1988 1987 2024 1986 2061 2040 2060 2045 2050 2055 2056 2057 2058 2059 In...
Explain each of the following managerial accounting terms and provide a real life example for each accounting term: direct materials, direct labor, and manufacturing overhead (MOH). Explain why each accounting term is either classified as a product cost or period cost.
The following problem shows an example of preferences that satisfy transitivity for but not for~. Johrn consumes two goods, X and Y. He prefers the bundle (x, y) to the bundle (x',y) if and only if (y-r'y > 1). Similarly, he prefers the bundle (x'y') to the bundle (x, y) if and only if (r'y' - ry > 1). Otherwise he is indifferent between the two bundles. a. Show that the relation of indifference () is not transitive for John....
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Consider the following numerical example of the IS-LM model: C = 241 +0.62Y) | = 151 +0.12Y-8981 G = 204 T = 163 i = 0.05 Derive the IS relation. (Hint: You want an equation with Y on the left side of the equation and everything else on the right.) Y=||- | i. (Round your calculations of the intercept and slope terms to two decimal places.) The central bank sets an interest rate of 5%. In the equations given above,...