Could Figure 3.2 be a single indifference curve if preferences are mono-tonic? Figure 3.2 : X2 Alleged

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Could Figure 3.2 be a single indifference curve if preferences are mono-tonic?

Figure 3.2 :

X2 Alleged indifference curves X1 Indifference curves cannot cross. If they did, X, Y, Z would all have to be indifferen

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Intermediate Microeconomics

ISBN: 978-0393934243

8th edition

Authors: Hal R. Varian

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Question Posted: Feb 20, 2019 02:27 PM

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Could Figure 3.2 be a single indifference curve if preferences are mono-tonic? Figure 3.2 : X2 Alleged

Question:

X2 Alleged indifference curves X1 Indifference curves cannot cross. If they did, X, Y, Z would all have to be indifferent to each other and thus could not lie on distinct indifference curves. and

Step by Step Answer:

No because there are bundles ...View the full answer

Intermediate Microeconomics

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