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Is consumer behavior consistent with WARP

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Question 2. (5 points) When prices are (p1,p2)=(1,2), a consumer demands (x1,x2)=(1,2). When prices are (2,1), the consumer demands (2,1). Is this behavior consistent with the Weak Axiom of Revealed preferences? Why yes or why not?.

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Question 2. (5 points) When prices are (p1,p2)=(1,2), a consumer demands (x1,x2)=(1,2). When prices are (2,1), the consumer demands (2,1). Is this behavior consistent with the Weak Axiom of Revealed preferences? Why yes or why not?

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Is consumer behavior consistent with WARP

  • 1. Question 2. (5 points) When prices are (p1,p2)=(1,2), a consumer demands (x1,x2)=(1,2). When prices are (2,1), the consumer demands (2,1). Is this behavior consistent with the Weak Axiom of Revealed preferences? Why yes or why not?