If a Consumer Maximizes a Utility Function Subject to a Budget

question 7

True/False

If a consumer maximizes a utility function subject to a budget constraint and has strictly convex preferences, then his behavior will necessarily satisfy the weak axiom of revealed preference and the strong axiom of revealed preference.

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Definitions:

Pain-Triggering Signals

Neurological transmissions that inform the brain of potential harm, leading to the experience of pain.

Gate-Control Theory

A theory proposing that the spinal cord contains a neurological "gate" that blocks or allows pain signals to proceed to the brain.

Spinal Cord Nerve Fibers

Bundles of axons within the spinal cord that transmit signals to and from the brain.

Increases Pain

The worsening or intensification of pain sensations in the body.