Multiple Choices 1. Wei U(x,x,)=min{4x, + x2,x +7x3}. If good 1 is on the horizontal axis and good 2 is on the vertical axis, what is the slope of his indifference curve at the point (4,7)? has preferences represented by the utility function: a) The slope is -4. b) The slope is -7/4. c) The slope is -1/7. d) The slope is -1/4. e) The slope is -4/7.

MATLAB: An Introduction with Applications
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Multiple Choices
1. Wei
has
utility
function:
represented
U(x,x,)=min{4x, + x2,x +7x}. If good 1 is on the horizontal axis and good 2 is on
the vertical axis, what is the slope of his indifference curve at the point (4,7)?
preferences
by
the
a) The slope is -4.
b) The slope is -7/4.
c) The slope is -1/7.
d) The slope is -1/4.
e) The slope is -4/7.
Transcribed Image Text:Multiple Choices 1. Wei has utility function: represented U(x,x,)=min{4x, + x2,x +7x}. If good 1 is on the horizontal axis and good 2 is on the vertical axis, what is the slope of his indifference curve at the point (4,7)? preferences by the a) The slope is -4. b) The slope is -7/4. c) The slope is -1/7. d) The slope is -1/4. e) The slope is -4/7.
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