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.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.5P

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Question

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

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