TRUE or FALSE. If the statement is correct, write TRUE on your answer sheet. If the statement is incorrect, write FALSE. Explain why you answered TRUE or FALSE. An indifference curve is characterized by its negative slope and concave curvature. The negative feature implies that as one gets an additional siopao the consumer has to decrease its consumption of hopia.

Q: u(x,y)=x·y2(MUx =y2,MUy =2x·y) Prove that the consumer is indifferent between the consumption…

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A: U(x, y) = 4x - y2 MRS = MUxMUy = 42y Hence the slope of the indifference curve is  2/y

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Q: W 7 Ms. Bain maximizes 6. utility (given her budget constraint) at point X, skiing 2 days and…

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