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2. An individual's preferences are rational and locally nonsatiated. Which of the following utility functions could represent her preferences over positive amounts of Good x?
2. An individual's preferences are rational and locally nonsatiated. Which of the following utility functions could represent her preferences over positive amounts of Good x?
A. U(x) =1 if x = 3; U(x) = 0 if x 3
B. U(x) = min{1, x}
C. U(x)= 1
D. U(x) = max(x,3)
E. None of options A-D could be correct.
F. All of options A-D could be correct.
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