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Revealed Preference Theory was propounded by which of the following?
  • a)
    Adam Smith
  • b)
    Paul Samuelson
  • c)
    J. S. Mill
  • d)
    T. R. Malthus
Correct answer is option 'B'. Can you explain this answer?
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Revealed Preference Theory was propounded by which of the following?a)...
Revealed preference theory was propounded by the American economist Paul Samuelson. It is a method of analyzing choices made by individuals, mostly used for comparing the influence of policies on consumer behaviour. These models assume that the preferences of consumers can be revealed by their purchasing habits.
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Revealed Preference Theory was propounded by which of the following?a)Adam Smithb)Paul Samuelsonc)J. S. Milld)T. R. MalthusCorrect answer is option 'B'. Can you explain this answer?
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