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Questions › CUET-PG › CUET-PG 2024 › Q6
4 marks, −1Microeconomics › Consumer preferences and utility › Revealed preferenceModerateabout 1 min

CUET-PG 2024 Question 6: Consumer preferences and utility

Keeping a consumer's income constant, if bundle X is chosen by a consumer when bundle Y is available, then when bundle Y is chosen, X must not be a feasible alternative. This property of consumer behaviour is known as

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Consumer preferences and utility has come up 93 times in 7 exams since 2007.

What this question tests

This question is on Revealed preference, part of Consumer preferences and utility in Microeconomics.

Inferring preferences from observed choices: the weak and strong axioms of revealed preference and consistency checks.

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