Question
A consumer purchases x1 = 40, x2 = 20 at the prices p1 =
4 and p2 = 12. He is also observed to purchase x1 = 36 and x2 = 8 at the prices p1 = 6 and p2 = 10. Which of the following is correct?Solution
Here the consumer purchases bundle (x1,x 2 ) when bundle (x,x 2 )* was available. And the consumer purchases bundle (x1,x 2 )* when (x,x 2 ) was not affordable. So, it follows WARP.
If someone prefers a 12 then he/she should not prefer a 21 SARP is related to indirect revealed preference case. So, you need at least 3 bundles. Here 2 options in the question can easily be removed.
Choose the correct spelling of the words below.
- Select the INCORRECTLY spelt word.
None of his sons is mature enough to adept to new circumstances.
In each question below, four words that are numbered a, b, c, and d have been printed of which one may be wrongly spelt. The number of that word is the ...
In 2021, his company will launch a vehicel that is capable of servicing two to three dozen satellites in a distant geostationary orbit.
- Identify the misspelt word among the following given options:
In each question, five words are given. One of them is incorrectly spelt. Choose the incorrectly spelt word.
A. Conscientious
B. Exhiler...
1) Tolarate
2) Hilight
3) Headquaters
4) Embarking
In each of the following sentences given below, four words have been printed in bold. One of these words may be misspelt or inappropriate in the contex...
If the domestic opposition to trade deals from different stakeholders is to be addressed , government needs a coherent policy that enhances their compet...