If U(x,y) = X^2Y^2 (Multiple choice)

1. Marginal utility of x diminishes as x increases with y held constant;
2. Utility increases by two for every one unit increase in the quantities of both x and y
3. Utility increases by a factor of 2 if x and y are both doubled.
4. The individual will consume equal quantities of X and Y regardless of their prices.
5. None of the above.