Economics · Consumer Behaviour
Keeping a consumer's income constant, if consumption bundle X is chosen by a consumer when bundle Y is affordable, then when bundle Y is chosen in another scenario, bundle X must not be an affordable alternative. This foundational property of consumer behaviour is known as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The strong axiom of revealed preference
- 2The feasibility property
- 3The weak axiom of revealed preference✓
- 4The generalized axiom of revealed preference
Correct answer
The weak axiom of revealed preference
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