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Prompt: Suppose a consumer went to a restaurant and was considering the combinations of chicken wings and boneless wings That include (5CW, 5BW), (7CW,

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Prompt: Suppose a consumer went to a restaurant and was considering the combinations of chicken wings and boneless wings That include (5CW, 5BW), (7CW, 8BW), and (8CW, 7CW). Furthermore, suppose the consumer told us the following statements. I. Additional amounts of chicken wings and boneless wings make them better off. II. They enjoy eating a meal that includes both chicken wings and boneless wings. III. They A) prefer (8CW, 7BW) to (7CW, 8BW) B) prefer (7CW, 8BW) to (5CW, 5BW) C) prefer (5CW, 5BW) to (8CW, 7BW) a) State the four assumptions for a consumer's preferences to be rational. (33pts) b) Given the information we have from the prompt, do all four preference assumptions hold for this consumer? If not state an assumption that is violated and why. (34pts) c) based on your answer in b), can we list this consumer's choices over chicken wings and boneless wings from best to worst? If yes, rank the three choices from best to worst. (33pts)

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