--%>

Transitivity

Please provide me answer of this question. What will be the implications for consumer's preferences and her indifference curves if the axiom of transitivity does not hold?

   Related Questions in Microeconomics

  • Q : Unitarily elasticity and profit

    When all costs are fixed in the short run, a monopolist maximizes profit through producing and selling the output level where: (1) demand is price elastic. (2) marginal revenue most greatly exceeds marginal cost. (3) demand is price inelastic. (4) mar

  • Q : Problem on Open Shops Whenever a firm

    Whenever a firm hires workers in spite of of whether the workers pay union dues, then this is: (i) A closed shop. (ii) A union shop. (iii) An agency shop. (iv) An open shop. (v) A scab shop. Choose the right answer from the above o

  • Q : Define marginal revenue Marginal

    Marginal revenue: This is the change in total revenue by selling one more or a lesser amount of unit of commodity.

  • Q : Function of money in economy State the

    State the main function of money in economy? Answer: The major function of money in an economic system is to ease the exchange of services and goods.

  • Q : Competition in Labor Markets The

    The horizontal labor supply curve signifies that: (i) The supply of labor is perfectly inelastic. (ii) The firm can hire as much labor as it requires at going wage rate. (iii) Labor and capital are in the fixed supply. (iv) Marginal physical product of the labor is co

  • Q : Pure competition market A purely

    A purely competitive market would NOT be illustrated by: (1) many potential buyers and sellers. (2) each buyer or seller being a price taker. (3) an absence of long-run barriers to entry or exit. (4) aggressive advertising to compare brands. (5) a sin

  • Q : Efficiency Wages-Expected losses

    Expected losses to the workers from shirking are raised when a firm accepts a policy of: (1) Dividing the productive tasks and hence the division of labor is optimal. (2) Paying the efficiency wages which surpass market-clearing wages. (3) Avoiding the legal liability

  • Q : Characteristic of Vertical Integration

    Vertical integration is the characteristic of all firms which: (1) Control multiple features of the production of an output from raw materials to the retail sales. (2) Operate as international cartels, dealing mainly in non-renewable resources. (3) Mo

  • Q : Prohibition in Economic Profit Economic

    Economic profits are not: (1) a surplus of revenues over opportunity costs. (2) quite similar to pure economic rents from society’s viewpoint. (3) zero in a purely competitive economy along with no uncertainty and zero transaction costs. (4) dif

  • Q : Problem on volatility of prices Can

    Can someone help me in finding out the right answer from the given options. In long run, the activities of successful speculators tend to: (i) Decrease the volatility of prices. (ii) Attract legal attention resultant in imprisonment. (iii) Raise the level and volatili