Wocking310
01.09.2020 •
Business
Which of the following assumptions on preferences leads to an interior solution to the consumer choice problem (i.e., one in which the optimal consumption choice involves some of each good). Classify each case as:a. Definitely YES (an interior solution is certain) b. Definitely NO (an interior solution is impossible) c. Possible (an interior solution might happen) Cases:1. Perfect complements 2. Strictly concave preferences 3. Concave preferences 4. Perfect substitutes 5. Discrete goods 6. A good and a bad
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