Revealed preferences tells us that if basket A and basket B lie on the same budget constraint but the consumer chooses B instead of A , then we know that
A) A is strictly preferred to B .
B) A is preferred to B .
C) B is strictly preferred to A .
D) B is preferred to A .

Question

Quizplus · Accepted Answer

The Answer of Revealed preferences tells us that if basket A and basket B lie on the same budget constraint but the consumer chooses B instead of A , then we know that
A) A is strictly preferred to B .
B) A is preferred to B .
C) B is strictly preferred to A .
D) B is preferred to A .

Revealed Preferences Tells Us That If Basket a and Basket