Question: In order for a preference relation to be considered rational, it must satisfy which of the following properties? Group of answer choices It must be

In order for a preference relation to be considered rational, it must satisfy which of the following properties?

Group of answer choices

It must be symmetric and reflexive.

It must be complete, symmetric and transitive.

It must be transitive and complete.

It must be complete and reflexive.

It must be symmetric, complete, transitive, and reflexive.

It must be transitive and symmetric.


Step by Step Solution

★★★★★

3.47 Rating (150 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

E It must be symmetric complete transitive and reflexive When a preference order is both transitive ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Which of the following properties indicates very strong intermolecular forces in a liquid? (a) Very low surface tension, (b) Very low critical temperature, (c) Very low boiling point, (d) Very low...

Q:

Which of the following departments most likely would approve changes in pay rates and deductions from employee salaries? a. Personnel. b. Treasurer. c. Controller. d. Payroll.

Q:

In order for a linear system with augmented matrix [A ( b] to be consistent, what must be true about the ranks of A and [A ( b]?

Q:

In order for an employment selection instrument to have validity, it must satisfy which of the following requirements? Group of answer choices The selection instrument bears a direct relationship to...

Q:

In order for an employment selection instrument to have validity, it must satisfy which of the following requirements? Group of answer choices The selection instrument bears a direct relationship to...

Q:

Verify the properties for the Marshallian demand function in the following propostion generated by the Cobb-Douglas utility function.Proposition4.1 : Suppose that u(.) is a continuous utility...

Q:

3.14 Preference relations The formal study of preferences uses a general vector notation. A bundle of n commodities is denoted by the vector x = (x1, x2, , xn), and a preference relation () is...

Q:

Ive just been on the phone to a new client. His name is Adonis Georgiadis. He wants to come and see a lawyer for legal advice. Ive made an appointment for tomorrow but prior to that I need you to do...

Q:

Note: these reference for this work. 1. Reference one: Checklist: How to Write an Effective IRAC Response Step 1: Task Understanding o Read the Instructions carefully [Read the Marking Rubric o Read...

Q:

. Assuming that rational preference relation is continuous, monotonic and homothetic. Show that rational preference relation is represented by a utility function that satifies, the following: for any...

Q:

social media marketing research and big data research companies

Q:

Data for Manufacturing Division of a company is as follows: Manufacturing Division Division Current ROI 25% Projected ROI on new Investment Project 17% Corporate Average ROI 15% Investment Required...

Q:

Income statements for the most recent period for each product line are presented below: Product A Product B Product C Sales $3,000 $900 $480 -Variable manufacturing costs -2,100 - 700 - 300 -Variable...

Q:

Problem 6 What is the total cost of food issue requisition, given the following? Item Begin Inventory Unit Cost No. Units Issued Total Cost $39.95 1-5/6 Tomato Paste cs-6/#10 Canned Peaches cs-6/#10...

Q:

CL I P COL Astro- L(1-cas0) Lsing *A=2 L sin(0/2)

Q:

1) The standard solution of today's search engines is based on certain indexing techniques. How would knowledge have to be structured according to the ideas of Vanevar Bush or Ted Nelson if their...

Q:

Required information [The following information applies to the questions displayed below. On May 4, 2019, Docker Inc. purchased 700 shares of its own common stock in the market at a price of $18.00...

Q:

What exactly is a prima facie duty? How does an ethic of prima facie duties differ from monistic and absolutist ethical theories?

Q:

It is estimated that the day Mt. St. Helens erupted (May 18, 1980), about 4.0 105 tons of SO2 were released into the atmosphere. If all the SO2 were eventually converted to sulfuric acid, how many...

Q:

How many grams of NaCl are required to precipitate most of the Ag+ ions from 2.50 x 102mL of 0.0113 M AgNO3 solution? Write the net ionic equation for the reaction.

Q:

Indicate which of the following sets of quantum numbers in an atom are unacceptable and explain why: (a) (1, 0, 1/2, 1/2), (b) (3, 0, 0, + 1/2), (c) (2, 2, 1, + 1/2), (d) (4, 3, 22, + 1/2), (e) (3,...

Q:

An advertisement for Ford trucks offered 2.9% financing (for 48 months) or $2000 cash back. A truck buyer financed $20,000 at the low interest rate instead of paying $18,000 cash (after the $2000...

Q:

If $400,000 accumulated in an RRSP is used to purchase an annuity earning 7.2% compounded monthly and paying $4500 at the end of each month, what will be the term of the annuity?

Q:

What semiannually compounded rate and effective rate of interest are being charged on a $12,000 loan if semiannual payments of $1204.55 will repay the loan in seven years?