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What is an internal node in a tree?
Violates WARP
Refers to an inconsistency in choice behavior that contradicts the Weak Axiom of Revealed Preference, indicating a possible preference reversal.
Bundle
A collection of items or services sold and purchased together.
Violates WARP
Refers to a consumer's choices that contradict the Weak Axiom of Revealed Preference, indicating inconsistencies in preference orderings.
Bundle
A combination of various goods and services that a consumer can choose to consume, given their income and preferences.
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