If we observe a consumer choosing (x 1 , x 2 )when(y 1 , y 2 ) is available one time, are we justified in concluding that (x 1 , x 2 ) (y 1 ,y 2 ) ...

No It might be that the con ...

If we observe a consumer choosing (x 1 , x 2 )when(y 1 , y 2 )

Question:

If we observe a consumer choosing (x₁, x₂)when(y₁, y₂) is available one time, are we justified in concluding that (x₁, x₂) ≻ (y₁,y₂)?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Intermediate Microeconomics

ISBN: 978-0393934243

8th edition

Authors: Hal R. Varian

See More Books

Question Posted: Feb 20, 2019 02:24 PM

See More Questions

1. According to the General Counsels position, why was Santillo fired by his employer? 2. Why was Santillo fired, according to the company? 3. Did the Supreme Court find that the Board was justified...
If we observe a 1-year Treasury security rate that is higher than the 2-year Treasury security rate, what can we infer about the 1-year rate expected one year from now?
Business Application: Price Leadership in Differentiated Product Markets: We have considered how oligopolistic firms in a differentiated product market price output when the firms simultaneously...
What are decision support systems, and what role do they play in the business environment?
The company received a bank statement at the end of the month. The statement contained the following: Ending balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
Problems 94101 are based on material learned earlier in the course. The purpose of these problems is to keep the material fresh in your mind so that you are better prepared for the final exam. What...
Bill Bhaskar owned a medical practice, Bill Bhaskar, M.D., Inc. Bhaskar was approached by Abdul S. Walji and his company, Calpension, Inc., soliciting his business as Employee Benefit Consultants...
Central Laundry and Cleaners is considering replacing an existing piece of machinery with a more sophisticated machine. The old machine was purchased 3 years ago at a cost of $50,000, and this amount...
Your manager is concerned that costs are being misappropriated due to large balances in ending work in process inventories while currently using the FIFO Method for accounting for beginning work in...
1. What important career factors should Zack consider when evaluating his options? 2. What important personal factors should Zack consider when deciding among his career options? 3. What...
On the planet Mungo, they have two kinds of money, blue money and red money. Every commodity has two pricesa red-money price and a blue-money price. Every Mungoan has two incomesa red income and a...
Consider a group of people A, B, C and the relation at least as tall as, as in A is at least as tall as B. Is this relation transitive? Is it complete?
A 0.0182-g sample of an unknown substance was dissolved in 2.135 g of benzene. The molality of this solution, determined by freezing-point depression, was 0.0698 m. What is the molecular mass of the...
Big Apple, Inc. is expected to pay an annual dividend in the amount of $1.5 a share next year. This dividend is expected to increase by 5 percent annually. The companys stock is currently selling for...
Taking into account that on the electoral roll there are 7,450,200 people with the capacity to vote, and that only 4,830,400 voters voted, what was the percentage of citizens who did not vote?
Why have reusable launch vehicles generally been more expensive than expendable ones?
Find the values of a where the tangent line to the graph of f(x) 6x + 4. y = - Give exact answers (not decimal approximations). (Tip: To enter a, type either sqrt(a) or a^(1/2).) The greater solution...
If the U.S. was an age-irrelevant society, would there be a better opportunity for optimistic aging? Explain
Show that the equilibrium elasticities in the two countries must be equal in Solved Problem 12.3?
Making use of the tables of atomic masses, find the velocity with which the products of the reaction B10 (n, ) Li7 come apart; the reaction proceeds via interaction of very slow neutrons with...
You will remember Harry Mazzola, who consumes only corn chips and french fries. Harrys utility function is u(x1, x2) = min{x1 + 2x2, 2x1 + x2} where x1 is his consumption of corn chips and x2 is his...
Claras utility function is U(X, Y) = (X + 2) (Y + 1), where X is her consumption of good X and Y is her consumption of good Y. (a) Write an equation for Claras indifference curve that goes through...
Ambrose, the nut and berry consumer, has a utility function U(x 1 , x 2 ) = 4x 1 +x 2 , where x 1 is his consumption of nuts and x 2 is his consumption of berries. (a) The commodity bundle (25, 0)...
If Mary earns $260,000 per year how much does she earn per week?
On 9 May 2023. Apple Inc, the of the iPhone and iPad among others, that it would sell "$5.25 billion in five-part dollar bonds" 1Describe the instrument that is being created as result of the above ....
A retailer bought an entertainment unit with a list price of $900 less trade discounts of 40% and 25%. What is the cost for the retailer?

If we observe a consumer choosing (x 1 , x 2 )when(y 1 , y 2 )

Question:

Step by Step Answer:

No It might be that the con...View the full answer

Intermediate Microeconomics

Students also viewed these Business questions