Question

At prices ($4, $12), Harry chooses the bundle (9, 4). At the prices ($8, $4), Harry chooses the bundle (2, 9). Is this behavior consistent with the weak axiom of revealed preference? Show all work and explain why or why not. Is Harry's behavior consistent with the Strong Axiom of revealed preference?

**PLEASE SHOW ALL WORK**

Answer #1

Please show work.
When the prices were ($5, $1), Vanessa chose the bundle (x, y) =
(6, 3). Now at the new prices, (px, py), she chooses the bundle (x,
y) = (5, 7). For Vanessa’s behavior to be consistent with the weak
axiom of revealed preference, it must be that
a. 4py < px.
b. px < 4py.
c. 5py < px.
d. py = 5px.
e. None of the above.

Please explain/show work.
When prices are ($6, $3), Holly chooses the bundle (9, 18), and
when prices are ($1, $2), she chooses the bundle (8, 14).
a. The bundle (9, 18) is revealed preferred to the bundle (8,
14) and she does not violate WARP.
b. She violates SARP but not WARP.
c. The bundle (8, 14) is revealed preferred to the bundle (9,
18) and she does not violate WARP.
d. She violates WARP.
e. None of the above.

Here is a table of prices and the demands of a consumer named
Ram whose behavior was observed in 5 different price-income
situations. Situation P1 P2 X1 X2 A 1 1 5 35 B 1 2 35 10 C 1 1 10
15 D 3 1 5 15 E 1 2 10 10 Is Ram’s behavior consistent with the
Weak Axiom of Revealed Preference ?

Find the standard deviation of 4, 9, 11, 12, 17, 5, 8, 12, 14.
The answer should have two decimals.
Please show your work.

Suppose prices are given by p1 = 2 and p2
= 4. Which of the following consumption patterns are consistent
with the assumption that the consumer chooses the consumption
bundle that he prefers the most among those affordable if his
preferences are non-satiated (“more-is-better”) and strictly
convex?
(a) If m = 10, he consumes (2, 1). If m = 14, he consumes (3,
2).
(b) If m = 12, he consumes (2, 2). If m = 18, he consumes (1,...

Given the data set A = {5, 4, 6, 14, 2, 2, 11, 4, 5, 8, 3, 1,
12, 15, 13}, which is the data of a sample taken from a larger
population. Please Solve NOT Using Excel
Calculate the mean deviation Show all work! (5
pts)
Mean= 7
MD= (|5-7|+ |4-7|+
|6-7|+|14-7|+|2-7|+|2-7|+|11-7|+| 4-7|+ |5-7|+| 8-7|+|
3-7|+|1-7|+|12-7|+ |15-7|+| 137|)/7
Mean deviation = 4.13
Calculate the variance Show all work! (5
pts)
Calculate the standard deviation Show all
work! (5...

Consider the following:
period 1, 2, 3, 4, 5, 6, 7, 8
demand 7, 8, 9, 10, 14, 16, 13, 16
a. using a trend projection, forecast the demand for period
9
b. calculate the MAD for this forecast
Show all work! do not use excel or phstat!!!

Let A = {0, 3, 6, 9, 12}, B = {−2, 0, 2, 4, 6, 8, 10, 12}, and C
= {4, 5, 6, 7, 8, 9, 10}.
Determine the following sets:
i. (A ∩ B) − C
ii. (A − B) ⋃ (B − C)

3, Work problem on Page 8-11, Question 12. Consider the
following data drawn from a normal distribution population: 4, 8,
12, 11, 14, 6, 12, 8, 9, 5 Construct a 90% confidence interval for
the population mean.
Show steps please

T/F/U. Stores that offer to accept their competitor’s coupons
and/or prices are participating in oligopolistic behavior.
T/F/U. You are more likely to shirk when you interact with the
other party frequently. Explain why this is or isn’t the case using
an original example.
T/F/U. Colleges and Universities should take advantage of
celebrities’ kids by charging them higher tuition rates
T/F/U. Two firms produce various quantities at various prices.
At prices less than $456, no firm produces anything. At $500, firm...

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