{"id":119321,"date":"2022-09-27T15:03:07","date_gmt":"2022-09-27T09:33:07","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=119321"},"modified":"2022-09-27T15:03:09","modified_gmt":"2022-09-27T09:33:09","slug":"the-revealed-preference-theory-deduces-the-inverse-price-quantity-relationship-from","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/the-revealed-preference-theory-deduces-the-inverse-price-quantity-relationship-from\/","title":{"rendered":"The Revealed Preference Theory deduces the inverse price-quantity relationship from"},"content":{"rendered":"\n<p><strong>Q. The Revealed Preference Theory deduces the inverse price-quantity relationship from:<\/strong><\/p>\n\n\n\n<p>A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assumption of indifference<\/p>\n\n\n\n<p>B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Postulate of utility maximization<\/p>\n\n\n\n<p>C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Observed behaviour of the consumer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Introspection<\/p>\n\n\n\n<p>Answer: Observed behaviour of the consumer<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Q. The Revealed Preference Theory deduces the inverse price-quantity relationship from: A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assumption of indifference B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Postulate of utility maximization C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Observed behaviour of the consumer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Introspection Answer: Observed behaviour of the consumer<\/p>\n","protected":false},"author":419,"featured_media":119322,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4960],"tags":[4961],"offerexpiration":[],"class_list":["post-119321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-demand-and-supply-mcqs","tag-demand-and-supply-mcqs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/419"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=119321"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119321\/revisions"}],"predecessor-version":[{"id":119323,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/119321\/revisions\/119323"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/119322"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=119321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=119321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=119321"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=119321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}