A community for students.
Here's the question you clicked on:
 0 viewing
sub
 2 years ago
when the price of X is 3 and the price of Y is 3,an individual consumes a bundle of x=4,Y=4.when the price of X has become 1 and the price of Y 5,the individual chooses a bundle of X=3,Y=5.therefore,the consumer prefers (3,5) over (4,4).true or false,explain..
sub
 2 years ago
when the price of X is 3 and the price of Y is 3,an individual consumes a bundle of x=4,Y=4.when the price of X has become 1 and the price of Y 5,the individual chooses a bundle of X=3,Y=5.therefore,the consumer prefers (3,5) over (4,4).true or false,explain..

This Question is Closed

TAIWORIDWAN
 2 years ago
Best ResponseYou've already chosen the best response.0This question doesn't comply with the economic assumption of consumer rationality i.e A consumer prefers more to less. Unless if this goods X and Y are LUXURY goods in which consumers tends to buy more as price rises to show off wealth. The demand curve for this kind of goods will be an abnormal demand curve(drawing down from right to left like a supply curve)
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.