Final answer:
Bill's preferences for oranges over apples, apples over bananas, and oranges over bananas do not violate any properties. They satisfy both completeness and transitivity, and 'more is better' does not apply to this context.
Step-by-step explanation:
The question pertains to the properties of preferences in Economics. Bill has a preference ordering over three goods: oranges, apples, and bananas. According to his preferences:
- He likes oranges better than apples.
- He likes apples better than bananas.
- He likes oranges better than bananas.
Given these preferences, Bill does not violate any of the properties. Completeness is satisfied because he has a preference or indifference between any two options. Transitivity is satisfied because he consistently prefers oranges over apples and apples over bananas, thus he prefers oranges over bananas through transitive inference. The concept of 'more is better' is not directly applicable here since we are discussing ordinal preferences rather than quantities of goods.