Question: 1. List 3 different neoclassical assumptions about consumer behavior. Explain what they mean and why they are necessary to the model. 2. How do you

1. List 3 different neoclassical assumptions about consumer behavior. Explain what they mean and why they are necessary to the model.

2. How do you rank preferences for 2 bundles (A, B) on the same indifference curve?

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