Revealed Preference Theory

Revealed preference theory was formulated by

• Hicks

• Samuelson

• Marshall

• Keynes

Which among them are the assumptions of the Revealed Preference Approach

• Constant tastes and preferences

• Strong ordering

• Perfect competition

• weak ordering

Revealed preference theory is based on weak ordering

• True

• False

According to Samuelson utility is measurable

• False

• True

Instead of indifference, Revealed Preference theory focusses on

• Rationality

• Preference

• Measurability

• None

According to Revealed Preference theory, the consumer can select a combination that is above his budget line

• True

• False