Joe can afford two bundles of goods: $x_{1}$ and $x_{2}$. Joe chooses $x_{1}$. Thus $x_{1}$ is strictly revealed preferred to $x_{2}$ only if A) $p_{2} x_{2}p_{1} x_{1}$ D) Both are affordable.

Question

Joe can afford two bundles of goods: $x_{1}$ and $x_{2}$. Joe chooses $x_{1}$. Thus $x_{1}$ is strictly revealed preferred to $x_{2}$ only if
A) $p_{2} x_{2}<p_{1} x_{1}$
B) $p_{2} x_{2}=p_{1} x_{1}$
C) $p_{2} x_{2}>p_{1} x_{1}$
D) Both are affordable.

Quizplus · Accepted Answer

The Answer of Joe can afford two bundles of goods: $x_{1}$ and $x_{2}$. Joe chooses $x_{1}$. Thus $x_{1}$ is strictly revealed preferred to $x_{2}$ only if
A) $p_{2} x_{2}<p_{1} x_{1}$
B) $p_{2} x_{2}=p_{1} x_{1}$
C) $p_{2} x_{2}>p_{1} x_{1}$
D) Both are affordable.

Joe Can Afford Two Bundles of Goods x1x_{1}x1​ And x2x_{2}x2​ Joe Chooses

Joe Can Afford Two Bundles of Goods $x_{1}$ And $x_{2}$ Joe Chooses