Here is a table of prices and the demands of a consumer named Ronald whose behavior was

Question:

Here is a table of prices and the demands of a consumer named Ronald whose behavior was observed in 5 different price-income situations.

(a) Sketch each of his budget lines and label the point chosen in each case by the letters A, B, C, D, and E.
(b) Is Ronald€™s behavior consistent with the Weak Axiom of Revealed Preference?
(c) Shade lightly in red ink all of the points that you are certain are worse for Ronald than the bundle C.
(d) Suppose that you are told that Ronald has convex and monotonic preferences and that he obeys the strong axiom of revealed preference. Shade lightly in blue ink all of the points that you are certain are at least as good as the bundle C.