Multiple Choice
Pierre's friend Marcel lives in a town where he has to pay 3 francs per glass of wine and 5 francs per loaf of bread.Marcel consumes 9 glasses of wine and 4 loaves of bread per day.Recall that Bob has an income of $15 per day and pays $.50 per loaf of bread and $2 per glass of wine.If Bob has the same tastes as Marcel and if the only thing that either of them cares about is the consumption of bread and wine,
A) both of them violate the weak axiom of revealed preferences.
B) there is not enough information to determine whether one is better off than the other.
C) Bob is better off than Marcel.
D) Marcel is better off than Bob.
E) Bob and Marcel are equally well off.
Correct Answer:

Verified
Correct Answer:
Verified
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
Q13: On the planet Hyperion every consumer who
Q14: if the only information we had about
Q15: Pierre's friend Henri lives in a town
Q16: Let us reconsider the case of Ronald
Q17: Pierre's friend Henri lives in a town