When Prices Are ($2, $4), Ms

question 53

Multiple Choice

When prices are ($2, $4) , Ms.Consumer chooses the bundle (7, 9) , and when prices are ($15, $3) , she chooses the bundle (10, 3) .Is her behavior consistent with the weak axiom of revealed preference?

• A)Yes.
• B)No.
• C)We would have to observe a third choice to be able to say.
• D)We can't tell because we are not told her income in the two cases.
• E)None of the above.

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Definitions:

Extended View

A type of view in drawing that is used to show internal features of an object that are not visible in a standard view, by 'extending' or cutting open the object.

Inclined Surface

A plane surface set at an angle to a horizontal surface.

Ellipse

A regular oval shape, described by a curve on a plane, such that for any point on the curve, the sum of the distances to two fixed points (foci) is constant.

Deep/Depth Symbol

A drafting notation used to designate the depth of a hole or a recess in technical drawings.