The completeness assumption implies that:
A)indifference curves are convex.
B)the individual is indifferent between all bundles.
C)indifference curves are smooth.
D)any two points in the x - y space can be ranked.

Question

Quizplus · Accepted Answer

The completeness assumption in consumer theory states that a consumer can compare and rank any two bundles of goods, meaning they have a preference for one over the other or are indifferent between the two. This allows for the construction of a complete preference ordering over all possible bundles.

The Completeness Assumption Implies That