Assume that,when comparing two alternatives X and Y,the 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, the consumer can compare them and state a preference for one over the other or indicate indifference. This allows for a complete ordering of preferences over all possible alternatives.

Assume That,when Comparing Two Alternatives X and Y,the Consumer Either