1) Is it true, false, or uncertain that x(p, w) x(p, w)? Why?

2) Is it true, false, or uncertain that x(p, w) x(p, w)? Why?

1. (25 points) Alice's preferences are rational, convex, continuous, and locally non- satiated. Suppose that she is indifferent between the consumption bundles she chooses at (p,w) and (p',w'); that is, x(p,w) ~ x(p',w'). Let p\" = %(p + p') and w\" = %(w + w'), and suppose that p 75 p' and w 7 w'. (a) (10 points) Is it true, false, or uncertain that x(p\