Suppose that the following utility function is given U(X,Y) = -X-y which of the following is correct? OXis a good and Y is a bad and indifference curve is negatively sloped. Both X and Y are goods and indifference curve is negatively sloped. Both X andY are bads and indifference curve is negatively sloped. OYisa good and X is a bad and indifference curve is positively sloped.

Suppose that the following utility function is given U(X,Y) = -X-y which of the following is correct? OXis a good and Y is a bad and indifference curve is negatively sloped. Both X and Y are goods and indifference curve is negatively sloped. Both X andY are bads and indifference curve is negatively sloped. OYisa good and X is a bad and indifference curve is positively sloped.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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