Economics · Revealed Preference Theory
Which of the following statements is correct regarding revealed preference theory?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Revealed preference theory requires cardinal utility
- 2GARP is necessary and sufficient for utility maximization✓
- 3WARP guarantees the existence of a continuous utility function
- 4SARP is necessary but not sufficient for utility maximization
Correct answer
GARP is necessary and sufficient for utility maximization
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Preparing for Economics?
Practice full-length Economics mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Revealed Preference Theory MCQs →Want more practice questions on Revealed Preference Theory?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Revealed Preference Theory