1 Revealed preference Consider the following consumption dataset over X = R} : = i 1 2 3 4 5 pi wi r (1, 2, 5) 7 (5, 1, 0) (2, 2, 0.1) 1.5 (0, 0.5, 5) (2, 1, 3) 9 (3, 0, 1) (3, 5, 0.5) 3.5 (0.5, 0, 4) (1, 1, 0.5) 3 (0, 3, 0) 1. List all weak and strict direct revealed preferences satisfied by this dataset. 2. List all weak and strict indirect revealed preferences satisfied by this dataset. 3. Does this dataset satisfy GARP? 4. List all strict preference relations over the observed choices that are consistent with the data. 5. Rank the consumption bundles (0, 3, 0), (2, 2, 1), and (0, 0, 10) in order of preference, assuming that the decision maker's preferences are strictly monotone and convex. 1 Revealed preference Consider the following consumption dataset over X = R} : = i 1 2 3 4 5 pi wi r (1, 2, 5) 7 (5, 1, 0) (2, 2, 0.1) 1.5 (0, 0.5, 5) (2, 1, 3) 9 (3, 0, 1) (3, 5, 0.5) 3.5 (0.5, 0, 4) (1, 1, 0.5) 3 (0, 3, 0) 1. List all weak and strict direct revealed preferences satisfied by this dataset. 2. List all weak and strict indirect revealed preferences satisfied by this dataset. 3. Does this dataset satisfy GARP? 4. List all strict preference relations over the observed choices that are consistent with the data. 5. Rank the consumption bundles (0, 3, 0), (2, 2, 1), and (0, 0, 10) in order of preference, assuming that the decision maker's preferences are strictly monotone and convex