Question: We learned that well-behaved preferences are monotonic and conver. We aerined that convex preferences with the following: For any weight t between 0 and

We learned that well-behaved preferences are monotonic and conver. We aerined that

We learned that well-behaved preferences are monotonic and conver. We aerined that convex preferences with the following: For any weight t between 0 and 1, between to indifferent bundles (r1, 2) and (y1, y2), (tr + (1 t)y,, ta2 + (1 t)y2) E (1,12) Show (i) perfect complements and (ii) perfect substitutes are convex preferences by using indif- ference curves on the graph.

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