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Evaluting the Slutsky-equation, Weak Axiom of Revealed Preferences and Consumer behavior.

At initial prices p0i, i - 1,... ,n Bert chooses to consume quantities qoi. i = l,...,n. Prices change to p0i, i = l,...,n, Bert is Slutsky-compensated and he chooses to consume quantities q\, i = 1,... ,n. His behavior satisfies WARP.

394_consume quantities.bmp

Are the following statements true or false? Briefly justify- your answers.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M919455

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