D Question 7 3.5 pts Which of the following utilities does NOT represent homothetic preferences? 0 [\"551 y) = 3: + July) All three given utilities do NOT represent homothetic preferences. 0 U[a:,y) = 1/32 + 1F 1 l O U031?) : 53+ 3 D All three given utilities represent homothetic preferences. 3 Question 8 3.5 pts If an individual's indifference curves do not satisfy the diminishing MRS property (they are not convex). then: 0 The second order conditions are never satised. O A consumption bundle that satises the tangencv condition may not be the optimal one. Q The optimal consumption bundle is always a corner solution on x s _ i (w - l C) The budget constraint and the indifference curves cannot be tangent. O The optimal consumption bundle is always a corner solution on v (at = t)