Question 3 Goluki's preferences are given by the following utility function: 1/3 1/3 U(qı, 92) = + q°, %3D where q, is the number of cups of tea and q2 is the number of cookies. Select all that applies: V a) Her preferences satisfy "more is better" b) Her indifference curves are L-shaped c) Her income-consumption curve is upward sloping but not a straight line d) Cookies is a normal good for her e) Her demand function for cookies is a downward sloping but not a straight line O f) Her Engel curve for tea is upward sloping straight line O 8) none of the above

Question 3 Goluki's preferences are given by the following utility function: 1/3 1/3 U(qı, 92) = + q°, %3D where q, is the number of cups of tea and q2 is the number of cookies. Select all that applies: V a) Her preferences satisfy "more is better" b) Her indifference curves are L-shaped c) Her income-consumption curve is upward sloping but not a straight line d) Cookies is a normal good for her e) Her demand function for cookies is a downward sloping but not a straight line O f) Her Engel curve for tea is upward sloping straight line O 8) none of the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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