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Howard has the utility function U ( x, y )= x -(1/ y ).His income is $30 a.None of the above. b.If the price of

Howard has the utility functionU(x, y)=x-(1/y).His income is $30

a.None of the above.

b.If the price of good x is $4 and the price of good y is $1, Howard will buy 2 units of y.

c.Howard does not like good y.

d.Howard has a bliss point.

e.Howard will only buy good y because it is cheaper than good x.

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