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Each of the following consumers exhibit behavior that violates one of the basic assumptions of ...

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Each of the following consumers exhibit behavior that violates one of the basic assumptions of ...

Each of the following consumers exhibit behavior that violates one of the basic assumptions of consumer preferences. Identify the assumption that is violated for each individual.
∙   Art says that he can watch 2 movies a week but couldn't be paid to watch another movie after that.
∙   Alex says that he prefers going to a movie over hiking. He also indicates that he prefers hiking to swimming. Alex then states that he would rather go swimming than go to a movie.
∙   Alicia says that she prefers hiking to watching a movie but can't determine her preferences for swimming.

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Microeconomics

Edition: 8^th

Author: Pindyck

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