Y7

3. (10 points) Consider the following bundles x' at prices p' (where i = (A, B, C} chosen by a consumer: 5 19 g 12 = 12 12 27 pc 11 a. Do these data points satisfy the weak axiom of revealed preference? Consider all pairwise comparisons of the bundles and then show that one bundle in the pair is revealed preferred to the other, for each case. b. Is the transitivity satisfied with these revealed preferences? Why or why not?3. (10 points) Consider the following bundles x' at prices p' (where i = (A, B, C} chosen by a consumer: 5 19 g 12 = 12 12 27 pc 11 a. Do these data points satisfy the weak axiom of revealed preference? Consider all pairwise comparisons of the bundles and then show that one bundle in the pair is revealed preferred to the other, for each case. b. Is the transitivity satisfied with these revealed preferences? Why or why not