Multiple Choice
At prices ($4, $12) , Harry chooses the bundle (9, 4) .At the prices ($8, $4) , Harry chooses the bundle (2, 9) .Is this behavior consistent with the weak axiom of revealed preference?
A) Yes.
B) No.
C) It depends on his income.
D) We would have to observe a third choice to be able to say.
E) None of the above.
Correct Answer:

Verified
Correct Answer:
Verified
Q6: Consider the case of Ronald.Let the prices
Q7: If a consumer maximizes a utility function
Q8: Prudence is careful to plan ahead.She is
Q9: An increase in the price of an
Q10: If Goldie chooses the bundle (6, 6)when
Q12: Jose consumes rare books which cost him
Q13: Twenty years ago, Dmitri consumed bread which
Q14: The strong axiom of revealed preference says
Q15: Howard Send is deciding whether to keep
Q16: Let A stand for the bundle (7,