When comparing two alternatives X and Y,a consumer either prefers X to Y,prefers Y to X,or is indifferent between them.This property is called:
A) transitivity.
B) completeness.
C) the ranking principle.
D) the choice principle.

Question

Quizplus · Accepted Answer

Completeness in the context of consumer choice theory means that for any two alternatives, a consumer can compare them and have a preference for one over the other or be indifferent between them. This allows for a complete ordering of preferences over all possible alternatives.

When Comparing Two Alternatives X and Y,a Consumer Either Prefers