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(i) Write down a formal definition of Choice data is consistent with utility maximization that is analogous to the definition of consistency with preference maximization.
(i) Write down a formal definition of "Choice data is consistent with
utility maximization" that is analogous to the definition of "consistency with
preference maximization". (ii) Using a domain A = {a, b, c} provide an example
of choice data that is consistent with preference maximization but not consistent
with utility maximization. (iii) Provide your reasoning underlying (ii).
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