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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define monotonic preferences.
💡 Hint: Think about how consumers make choices.
Question 2
Easy
What does an indifference curve represent?
💡 Hint: Think of it as a level of satisfaction analogy.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What happens to consumer preferences when a bundle has more of at least one good?
- They prefer it
- They are indifferent
- They dislike it
💡 Hint: Think about how choices reflect consumer satisfaction.
Question 2
Is the statement true or false? 'Two indifference curves can intersect.'
- True
- False
💡 Hint: Reflect on how preferences are organized.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
If a consumer has the choice between bundles (5 bananas, 7 mangoes) and (6 bananas, 6 mangoes), which will they choose based on monotonic preferences and why?
💡 Hint: Focus on the quantity of each good.
Question 2
Draw and label indifference curves for a consumer who prefers apples and oranges. Describe how you would illustrate monotonic preferences.
💡 Hint: Consider how preferences rank.
Challenge and get performance evaluation