Business, 05.05.2020 21:29 oliviajewelwilliams

The price of a pack of Pokemon cards is $5, and the price of a pack of baseball cards is $3. Suppose Will, whose preferences are complete, transitive, monotonic and convex, uses all of his income to buy 5 packs of Pokemon cards and 5 packs of baseball cards. At this consumption bundle, you could take away 4 packs of Pokémon cards if you give him 7 packs of baseball cards and not change his utility.
1. Which of the following is necessarily true?
a. Will could increase his utility by buying more Pokemon cards and fewer baseball cards.
b. Will could increase his utility by buying more baseball cards and fewer Pokemon cards.
c. Will could increase his utility by buying fewer Pokemon cards and fewer baseball cards.
d. Will is already at his utility maximizing bundle.

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The price of a pack of Pokemon cards is $5, and the price of a pack of baseball cards is $3. Suppose...

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