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 one year 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
 one year 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..

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TAIWORIDWAN
 one year 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)
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