Multiple Choice
When the prices were ($4, $1) , Maria chose the bundle (x, y) = (8, 6) . Now at the new prices, (px, py) , she chooses the bundle (x, y) = (7, 9) . For Maria's behavior to be consistent with the weak axiom of revealed preference, it must be that
A) py = 4px.
B) 4py < px.
C) 3py < px.
D) px < 3py.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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