James can afford to buy one of three cars: the Aleph, the Beth or the Gimel. He rates them on three criteria. On looks he rates the Aleph best, the Beth second best and the Gimel the worst. On road handling he rates the Beth the best, the Gimel second best and the Aleph worst. Finally, on safety he rates the Gimel the best, the Aleph second best and the Beth worst. He decides that he weakly prefers one car (say A) to another (say B) if and only if he prefers A to B on at least as many of these three criteria as he prefers B to A. He strongly prefers A to B if he weakly prefers A to B and doesn't weakly prefer B to A. Are the following statements true or false? Briefly justify your answers. (a) (b) James strongly prefers Aleph to Beth. James weakly prefers Gimel to Beth. James weakly prefers Gimel to Aleph.

James can afford to buy one of three cars: the Aleph, the Beth or the Gimel. He rates them on three criteria. On looks he rates the Aleph best, the Beth second best and the Gimel the worst. On road handling he rates the Beth the best, the Gimel second best and the Aleph worst. Finally, on safety he rates the Gimel the best, the Aleph second best and the Beth worst. He decides that he weakly prefers one car (say A) to another (say B) if and only if he prefers A to B on at least as many of these three criteria as he prefers B to A. He strongly prefers A to B if he weakly prefers A to B and doesn't weakly prefer B to A. Are the following statements true or false? Briefly justify your answers. (a) (b) James strongly prefers Aleph to Beth. James weakly prefers Gimel to Beth. James weakly prefers Gimel to Aleph.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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