Weak axiom of revealed preference
When prices are ($2, $10), Emil chooses the bundle (1, 6), and when prices are ($12, $4), he chooses the bundle (7, 2). Is Emil's choice of bundles consistent with the Weak Axiom of Revealed Preference?
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A quality control inspector selects a part to be tested. The part is then declared acceptable, repairable, or scrapped. Then another part is tested. Find the number of possible of outcomes of this experiment regarding two parts?
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