1In a two good economy, a consumer chose the bundle A when given the blue budget con- straint (the relatively steep line) and B when given the brown budget constraint. What property/condition/axiom does she necessarily violate?

G2 B A G1Consider a choice structure 3 which includes of all two and three element subsets of X. Which of the following are true statements? a. Condition 0: and Condition 5 imply the Weak Axiom. b. Condition 0: and Condition 5 are implied by the Weak Axiom. c. Condition o: implies Condition {3, provided C(B) has exactly one element for every B E B. d. A preference relation (complete, reexive and transitive relation) >_- that rationalizes the agent's choice may not exist even though the Weak Axiom is satised. Let X = {x, y, z } and B= {{x, y}, {x, y, z } } and C((x, y} ) = {}. Which of the following are consistent with WARP? a. C({x, y, z} ) = {y} b. C({x, y, z}) = {x} c. C((x, y, z} ) = {z} d. C((x, y, z}) = {x, z}Consider a typical utility maximizing consumer, with a continuous utility function dened over two goods. So X = IRE. as usual but with a small twist on the budget sets: Every unit Good 1 consumed above 50 units costs one and a half times the cost of unit of consumption consumed up to 50 units. So depending on the income level, a typical \"budget line\" may look either the thick blue line or the thick black line. 50 131 Figure 3. Assume that Assumption 3 on preferences is met (so, in particular, there is a continuous utility function). Which of the following statements are true? a. The \"Extreme Value Theorem" ensures that the utility maximization problem has a well-dened solution for all (p, 3;) 0. b. For every (p, 3:) 2'0, there must be a unique utility maximizing choice. c. Part (b) but only if preferences are also strictly convex and locally non-satiated. d. Since the budget sets are not convex, \"Extreme Value Theorem\" does not apply here