Question

Let 𝑥 and 𝑦 be two consumption bundles, assumed to be non-negative and perfectly divisible. Further, the assumptions of completeness, transitivity, reflexivity, non-satiation, continuity, and strict convexity are satisfied. Then, which of the following statements is NOT CORRECT?

• A. Either $𝑥 ≥ 𝑦, or 𝑦 ≥ 𝑥$, or both
• B. $𝑦 > 𝑥$ if 𝑦 contains more of at least one good and no less of any other
• C. 𝑥 is not indifferent to itself
• D. For 𝑥 (or 𝑦), its better set is strictly convex

Answer 1

Answer: (C)

𝑥 is not indifferent to itself

Answer 2

The correct answer is (C): 𝑥 is not indifferent to itself