Multiple Choice
When the prices were ($5, $1) , Vanessa chose the bundle (x, y) = (6, 3) . Now at the new prices, (px, py) , 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) 4py < px.
B) px < 4py.
C) 5py < px.
D) py = 5px.
E) None of the above.
Correct Answer:

Verified
Correct Answer:
Verified
Q7: If a consumer maximizes a utility function
Q12: Jose consumes rare books which cost him
Q14: The strong axiom of revealed preference says
Q18: Hillary has an initial endowment of $500
Q20: On the planet Homogenia, every consumer who
Q21: The Laspeyres price index differs from the
Q22: At prices (p1, p2) = ($4, $1),
Q36: Maria consumes strawberries which cost her 10
Q42: It follows from the weak axiom of
Q45: When prices are ($4, $2), Tomoko chooses