Question

    In the light of the revealed preference theory, consider

    the following options and select the right answer from the codes given below. a. Rationality b. Consistency c. Transitivity d. Non salination
    A a, b and c are correct Correct Answer Incorrect Answer
    B a, b, c and d are not correct Correct Answer Incorrect Answer
    C a and c are correct Correct Answer Incorrect Answer
    D a and b are correct Correct Answer Incorrect Answer

    Solution

    The revealed preference approach can be described by  rationality, consistency and transitivity. . These principles are fundamental to understanding how consumers make choices and how economists can infer preferences from observed behavior. 

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