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(1) When prices are (p1, p2) = (1, 2) a consumer demands (x1, x2) = (1, 2),and when prices are (q1, q2) = (2, 1) the consumer demands (y1, y2) = (2, 1).
Is this behavior consistent with the model of maximizing behavior?
(2) When prices are (p1, p2) = (2, 1) a consumer demands (x1, x2) = (1, 2),and when prices are (q1, q2) = (1, 2) the consumer demands (y1, y2) = (2, 1).
Is this behavior consistent with the model of maximizing behavior?
I KNOW the answers of these question .These questions on based on The Weak Axiom of Revealed Preference.
but i don't know how these are calculated.
 one year ago
 one year ago
(1) When prices are (p1, p2) = (1, 2) a consumer demands (x1, x2) = (1, 2),and when prices are (q1, q2) = (2, 1) the consumer demands (y1, y2) = (2, 1). Is this behavior consistent with the model of maximizing behavior? (2) When prices are (p1, p2) = (2, 1) a consumer demands (x1, x2) = (1, 2),and when prices are (q1, q2) = (1, 2) the consumer demands (y1, y2) = (2, 1). Is this behavior consistent with the model of maximizing behavior? I KNOW the answers of these question .These questions on based on The Weak Axiom of Revealed Preference. but i don't know how these are calculated.
 one year ago
 one year ago

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