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  3. consider the following commodity bundles bundleabcdef g 30 30 40...

Question: consider the following commodity bundles bundleabcdef g 30 30 40...

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Consider the following commodity bundles BundleABCDEF G 30 30 40 10 20 1010 1030 10 1020 2040 Assuming is complete, transitive and monotonic, (a) Graph these bundles in (x, y) space. (b) Is it possible to determine which of the seven bundles the consumer prefers most? Least? (c) Is it possible to determine which bundles are definitely neither most preferred nor least? (d) Suppose strictly diminishing MRSzy and that G ~ C. Is it now possible to determine which of the seven bundles the consumer prefers most?

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