微观经济学第八版课后习题答案第三章
20页1、Copyright 2013 Pearson Education, Inc. Publishing as Prentice Hall. Chapter 3 Consumer Behavior Questions for Review 1. What are the four basic assumptions about individual preferences? Explain the significance or meaning of each. (1) Preferences are complete: this means that the consumer is able to compare and rank all possible baskets of goods and services. (2) Preferences are transitive: this means that preferences are consistent, in the sense that if bundle A is preferred to bundle B and bun
2、dle B is preferred to bundle C, then bundle A is preferred to bundle C. (3) More is preferred to less: this means that all goods are desirable, and that the consumer always prefers to have more of each good. (4) Diminishing marginal rate of substitution: this means that indifference curves are convex, and that the slope of the indifference curve increases (becomes less negative) as we move down along the curve. As a consumer moves down along her indifference curve she is willing to give up fewer
3、 units of the good on the vertical axis in exchange for one more unit of the good on the horizontal axis. This assumption also means that balanced market baskets are generally preferred to baskets that have a lot of one good and very little of the other good. 2. Can a set of indifference curves be upward sloping? If so, what would this tell you about the two goods? A set of indifference curves can be upward sloping if we violate assumption number three: more is preferred to less. When a set of i
4、ndifference curves is upward sloping, it means one of the goods is a “bad” so that the consumer prefers less of that good rather than more. The positive slope means that the consumer will accept more of the bad only if he also receives more of the other good in return. As we move up along the indifference curve the consumer has more of the good he likes, and also more of the good he does not like. 3. Explain why two indifference curves cannot intersect. The figure below shows two indifference cu
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