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Problem 3 (10 points) Rob lives in a threegood world. For each period t = 1, 2,3, you observe the price vector pt 2 (195,195,193)
Problem 3 (10 points) Rob lives in a threegood world. For each period t = 1, 2,3, you observe the price vector pt 2 (195,195,193) that prevails in that period and the consumption bundle mt = (3:3, :63, avg) chosen by Rob in that period: p1 = (1,1,2), ml=(5,19,9), p2 = (1,1,1), $2=(12,12,12), p3 = (1,2,1), m3=(27,11,1). (a) Does Rob's behaviour satisfy the Strong Axiom of Revealed Preference (SARP)? (b) Does Rob's behaviour satisfy the Weak Axiom of Revealed Preference (WARP)
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