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Questions › DSE › DSE 2009 › Q48
2 marksMicroeconomics › Consumer preferences and utility › Preference axioms and rationalityHardabout 4 min

DSE 2009 Question 48: Consumer preferences and utility

Let R, I, P denote the weak preference, indifference and strict preference relations over X={x,y,z}X=\{x,y,z\}X={x,y,z}. R satisfies Quasitransitivity iff for all x,y,zx,y,zx,y,z: xPyxPyxPy and yPz⇒xPzyPz\Rightarrow xPzyPz⇒xPz. Which of the following preference configurations satisfies Quasitransitivity?

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Let R, I, P denote the weak preference, indifference and strict preference relations over X={x,y,z}. R satisfies Quasitransitivity iff for all x,y,z: xPy and yPz⇒ xPz. Which of the following preference configurations satisfies Quasitransitivity? (A) xPy & yPz & zPx (B) xPy & yPz & zIx (C) xPy & yIz & zIx (D) yPx & yIz & xPz

Also written as: Let R, I, P denote the weak preference, indifference and strict preference relations over X={x,y,z}. R satisfies Quasitransitivity iff for all x,y,z: xPy and yPz=> xPz. Which of the following preference configurations satisfies Quasitransitivity?

Consumer preferences and utility has come up 93 times in 7 exams since 2007.

What this question tests

This question is on Preference axioms and rationality, part of Consumer preferences and utility in Microeconomics.

The assumptions that make preferences well behaved: completeness, transitivity, monotonicity, continuity and convexity.

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Question from the DSE 2009 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.