Multiple Choice
if situation D is p = (3, 1) and x = (5, 10) ,
A) Ronald's behavior is consistent with both the Weak and the Strong Axioms of Revealed Preference.
B) Ronald's behavior is consistent with the Weak but not the Strong Axiom of Revealed Preference.
C) Ronald's behavior violates both the Weak and the Strong Axioms of Revealed Preference.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Let us reconsider the case of Ronald
Q3: On the planet Homogenia every consumer who
Q4: On the planet Hyperion every consumer who
Q5: if the only information we had about
Q6: On the planet Hyperion every consumer who
Q7: On the planet Homogenia every consumer who
Q8: On the planet Homogenia every consumer who
Q9: Let us reconsider the case of Ronald
Q10: if the only information we had about
Q11: Let us reconsider the case of Ronald