Solved

What Is the Name of the Axiom That States That

Question 16

Multiple Choice

What is the name of the axiom that states that, if bundle x is ever directly revealed to be preferred to bundle y when the two bundles are not identical, then y can never be directly revealed to be preferred to x?


A) Weak Axiom of Revealed Preference (WARP)
B) Strong Axiom of Revealed Preference (SARP)
C) Generalized Axiom of Revealed Preference (GARP)

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q11: What is the name of the axiom

Q12: The axiom that states that, if bundle

Q13: Assume an indifference map of convex indifference

Q14: If a consumer satisfies a version of

Q15: The only theory of the economics of

Q17: Two goods are perfect substitutes if they

Q18: Understanding tipping requires analysis of<br>A) only the

Q19: Give the tip that, if left by

Q20: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5736/.jpg" alt=" -Refer to Exhibit

Q21: Why is it true that indifference curves