When prices are (p 1 , p 2 ) = (1,2) a consumer demands (x 1 ,x
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When prices are (p1, p2) = (1,2) a consumer demands (x1,x2) = (1,2), and when prices are (q1, q2) = (2,1) the consumer demands (y1, y2) = (2,1). Is this behavior consistent with the model of maximizing behavior?
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No This consumer violates the Weak Axiom of Revealed Pre...View the full answer
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