When the Prices Were ($5, $1), Vanessa Chose the Bundle

question 24

Multiple Choice

When the prices were ($5, $1) , Vanessa chose the bundle (x, y) = (6, 3) . Now at the new prices, (p_x, p_y) , she chooses the bundle (x, y) = (5, 7) . For Vanessa's behavior to be consistent with the weak axiom of revealed preference, it must be that

• A) 4p_y < p_x.
• B) p_x < 4p_y.
• C) 5p_y < p_x.
• D) p_y = 5p_x.
• E) None of the above.

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