Suppose that a consumer is indifferent between the bundles (3, 1) and (1,5). Which ofthe following utility functions could NOT represent the consumer's preferences?(a) U(X, Y) = 2X + Y(b) U(X, Y) = X²Y³(c) U(X, Y) = min{X, Y} + 20(d) U(X, Y) = 4X + 2Y

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Answered: Suppose that a consumer is indifferent…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Suppose that a consumer is indifferent between the bundles (3, 1) and (1,5). Which of the following utility functions could NOT represent the consumer's preferences? (a) U(X, Y) = 2X + Y (b) U(X,Y) = X²Y³ (c) U(X, Y) = min{X, Y} + 20 (d) U(X,Y) = 4X + 2Y