When prices are (p 1 , p 2 ) (1,2) a consumer demands (x 1 ,x 2 ) (1,2), and when prices are (q 1 , q 2 ) (2,1) the consumer demands (y 1 , y 2 ) (2,1) Is this behavior consistent with the model of maximizing behavior ...

No This consumer violates the Weak Axiom of Revealed Pre ...

When prices are (p 1 , p 2 ) = (1,2) a consumer demands (x 1 ,x

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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?

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Intermediate Microeconomics

ISBN: 978-0393934243

8th edition

Authors: Hal R. Varian

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Question Posted: Feb 25, 2019 06:09 AM

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When prices are (p 1 , p 2 ) = (1,2) a consumer demands (x 1 ,x

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Intermediate Microeconomics

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