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Clarissa's has a Cobb-Douglas utility function U(x,y) = x 0.2 y 0.8 .Her income is $100, the price of x is $2 and the price

Clarissa's has a Cobb-Douglas utility function U(x,y) = x0.2y0.8.Her income is $100, the price of x is $2 and the price of y is $4. How many units of good x will she consume?

For every set of indifference curves there exists a unique utility function that describes these preferences.

True

False

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