The assumption of completeness means that
A) the consumer can rank all possible consumption bundles.
B) more of a good is always better.
C) the consumers can rank all affordable consumption bundles.
D) all preferences conditions are met.

Question

Quizplus · Accepted Answer

The assumption of completeness requires that the consumer is capable of ranking or comparing all possible consumption bundles. This means that for any two bundles, the consumer is able to determine which one is preferred or if they are indifferent between the two. Option B refers to the assumption of more-is-better, option C refers to the assumption of affordability, and option D is too general and not specific to the assumption of completeness.

The Assumption of Completeness Means That