Consider the choice structure (B,C (.)) such that (a) B=({x,y}, {x, y, z}) and C ({x,y})...

 

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Consider the choice structure (B,C (.)) such that (a) B=({x,y}, {x, y, z}) and C ({x,y}) = {x}. If (B,C (.)) satisfies a weak axiom of revealed preferences (WARP), show what C ({x, y, z}) must be. (b) B=({x,y}, {y, z}, {x, z}, {x, y, z}) and C ({x,y}) = {x}, C({y, z}) = {y}, C ({x, z}) = {2}. Show that (B,C ()) must violate the weak ax- iom of revealed preferences. Consider the choice structure (B,C (.)) such that (a) B=({x,y}, {x, y, z}) and C ({x,y}) = {x}. If (B,C (.)) satisfies a weak axiom of revealed preferences (WARP), show what C ({x, y, z}) must be. (b) B=({x,y}, {y, z}, {x, z}, {x, y, z}) and C ({x,y}) = {x}, C({y, z}) = {y}, C ({x, z}) = {2}. Show that (B,C ()) must violate the weak ax- iom of revealed preferences.