Concept of revealed preferences to rank two bundles of goods

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For each of the following, use the concept of revealed preferences to rank the two bundles of goods. If you cannot rank them, explain why.

(a) The price of 3 Brooks Brothers suits is $3000. The price of one Anderson and Sheppard suit is $5000. Bruce chooses to buy an Anderson and Sheppard suit

(b) The price of a bottle of 2007 Chateau d’Yquem is $249. The price of a bottle of (no vintage) Boone’s Farm is $2.79. Dana buys a bottle of Boone’s Farm.

Reference no: EM13998750

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