A consumer buys (x1, X2 , X3 ) at price vector (P, P2, P3). We make three observations of his behavior: At (P.P,.P.) = (1,1,2), the consumer chooses (x,..x,x, ) = (5,19,9) At (P.P,,P,)= (1,1,1), the consumer chooses (x,.x,.x, ) = (12,12,12) At (P,P,.P.) = (1,2,1), the consumer chooses (x,.*,*, ) = (27,11,1) Does the consumer's behavior satisfy WARP? What about SARP?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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A consumer buys (X1, X2 , x3 ) at price vector (P1, P2 , P3). We make three observations of his behavior:
At (P.P,P,)=(1,1, 2), the consumer chooses (x,,x,,x, ) =(5,19,9)
At (P.P,,P.) =(1,1,1), the consumer chooses (x,.x,,x, ) = (12,12,12)
At (P,P,,P,)= (1,2,1), the consumer chooses (x,.x,,x, ) =(27,11,1)
Does the consumer's behavior satisfy WARP? What about SARP?
Transcribed Image Text:A consumer buys (X1, X2 , x3 ) at price vector (P1, P2 , P3). We make three observations of his behavior: At (P.P,P,)=(1,1, 2), the consumer chooses (x,,x,,x, ) =(5,19,9) At (P.P,,P.) =(1,1,1), the consumer chooses (x,.x,,x, ) = (12,12,12) At (P,P,,P,)= (1,2,1), the consumer chooses (x,.x,,x, ) =(27,11,1) Does the consumer's behavior satisfy WARP? What about SARP?
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