The axiom that states that, if bundle x is revealed to be preferred to bundle y (either directly or indirectly) and bundle y is different from x, then bundle y cannot be directly or indirectly revealed to be preferred to x is called the Strong Axiom of Revealed Preference (SARP).
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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
Q8: The Weak Axiom of Revealed Preference (WARP)
Q9: The only theory of the economics of
Q11: Because of the convexity assumption and the
Q12: Stemming from convexity, as we move along
Q13: The optimal consumption bundle is the bundle
Q14: Given a student's indifference map, we will
Q15: 
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