Pierre's Friend Henri Lives in a Town Where He Has

question 15

Multiple Choice

Pierre's friend Henri lives in a town where he has to pay 3 francs per glass of wine and 7 francs per loaf of bread.Henri consumes 10 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 Henri 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)Bob is better off than Henri.
• C)Henri is better off than Bob.
• D)there is not enough information to determine whether one is better off than the other.
• E)Bob and Henri are equally well off.

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Definitions:

Rationalize Denominator

The process of eliminating a root from the denominator of a fraction.

Radical Expression

A radical expression is an expression that includes a root symbol, indicating the root of a number or an expression needs to be taken.

Radical Expression

An expression that includes a radical symbol, indicating the root of a number or another expression.

Cube Root

A value that, when multiplied by itself twice, gives the original number.