Dr. MWG; Problems 1.B.1, 1.B.2, 3.B.1, 3.B.3 Consider preferences defined over the nonnegative orthant by (x1,x2) (y1,y2) if x1 + x2 y1 + y2. Do

Dr. MWG; Problems 1.B.1, 1.B.2, 3.B.1, 3.B.3 Consider preferences defined over the nonnegative orthant by (x1,x2) (y1,y2) if x1 + x2 < y1 + y2. Do these preferences exhibit local nonsatiation? If these are the only two consumption goods and the consumer faces positive prices, will the consumer spend all of his income?