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For each item below, indicate whether the statement is true, false, or you don't have enough information to say. i) (3 marks) Lena dislikes broccoli
For each item below, indicate whether the statement is true, false, or you don't have enough information to say. i) (3 marks) Lena dislikes broccoli and cauliflower. For Lena these are "bads" rather than goods. Lena's indifference curves for these two goods would have a positive slope. Lena's preference relation for these goods is not monotone. ii) (3 marks) The utility functions U (X1, x2 ) - X1X2 and (X2 2) represent the same preferences, but W (X1, 2 ) = 1/ y does not represent the same preferences as U ( X1, x2 )
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