Consider the following three market baskets:Table 3.1

-Jane is trying to decide which courses to take next semester. She has narrowed down her choice to two courses, Econ 1 and Econ 2. Now she is having trouble and cannot decide which of the two courses to take. It's not that she is indifferent between the two courses, she just cannot decide. An economist would say that this is an example of preferences that:
A) are not transitive.
B) are incomplete.
C) violate the assumption that more is preferred to less.
D) all of the above

Question

Consider the following three market baskets:Table 3.1
 
-Jane is trying to decide which courses to take next semester. She has narrowed down her choice to two courses, Econ 1 and Econ 2. Now she is having trouble and cannot decide which of the two courses to take. It's not that she is indifferent between the two courses, she just cannot decide. An economist would say that this is an example of preferences that:
A) are not transitive. 
B) are incomplete. 
C) violate the assumption that more is preferred to less. 
D) all of the above

Quizplus · Accepted Answer

Jane's preferences are incomplete because she cannot make a choice between two options, indicating that her preferences are not fully defined. It is not a matter of transitivity or violating the assumption of more being preferred to less.

Consider the Following Three Market Baskets:Table 3.1