Question: Economics question 8. Briefly explain the difference between positive and normative. (5 points) 9. True or false and explain why: In microeconomic theory, a mathematical

Economics question

8. Briefly explain the difference between positive and normative. (5 points) 9. True or false and explain why: In microeconomic theory, a mathematical model is better if it is more general and uses fewer assumptions. (5 points) 10. This question concerns revealed preference theory. (15 points total) (a) Define the \"is revealed preferred to" binary relation for an arbitrary feasible choice set C. (5 points) (b) State the Weak Axiom of Revealed Preference (WARP). (5 points) (c) State the Strong Axion of Revealed Preference (SARP). (5 points)

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