The Weak Axiom of Revealed Preference (WARP) states that, if bundle x is ever directly revealed to be preferred to bundle y when the two bundles are not identical, then y can never be directly revealed to be preferred to x.
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Q3: A locus of bundles in the consumption
Q4: A set of indifference curves for a
Q5: At a particular point on the indifference
Q6: Indifference curves cannot slope
A) downward
B) horizontally
C) upward
Q7: The rule that indifference curves cannot cross
Q9: The only theory of the economics of
Q10: The axiom that states that, if bundle
Q11: Because of the convexity assumption and the
Q12: Stemming from convexity, as we move along
Q13: The optimal consumption bundle is the bundle
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