Solved

What Is the Name of the Axiom That States That

Question 11

Multiple Choice

What is the name of the axiom that states that, if bundle x is revealed to be preferred to bundle y (either directly or indirectly) and bundle y is different from x, then bundle y cannot be directly or indirectly 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

Q6: Stemming from convexity, as we move along

Q7: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5736/.jpg" alt=" -Refer to Exhibit

Q8: The rule that indifference curves cannot cross

Q9: A set of indifference curves for a

Q10: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5736/.jpg" alt=" -Refer to Exhibit

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

Q16: What is the name of the axiom