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Please check over my answers for me and explain your thought process, I want to make sure I'm on the right track for my final!

Please check over my answers for me and explain your thought process, I want to make sure I'm on the right track for my final!

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Question 23 Rachel has preferences that can be described by the utility function U(x, y) = 2ln(x) - 7. (MU. = 2, MUy = -y). Her indifference curves slope upward at an increasing rate. True O False Reset SelectionQuestion 27 of 40 2 Points If the law of demand holds for good x, good x must be a normal good. True False Reset SelectionQuestion 29 of 40 2 Points Question 29 An individual has a vNM utility function over money of u(r) = vr , where x is the amount of money won in the lottery. With a 50% probability she wins $36. With a 50% probability she wins $16. The risk premium for this individual is negative in such a lottery. O True O False Reset SelectionQuestion 30 of 40 2 Points Suppose in a particular production process that capital and labor are perfect substitutes so that three units of labor can always be substituted for two units of capital. If the price of capital is $5 per unit and the price of labor is $3 per unit, the firm should employ only capital to minimize the cost of producing its output level. O True False Reset SelectionQuestion 35 of 40 2 Points A monopoly generates dead-weight loss because consumers value the last unit of output higher than the amount that it costs to produce it. O True False Reset Selection Question 36 of 40Question 36 of 40 2 Points If the government does not regulate the market, monopoly always set a higher price and produce less output comparative to a perfectly competitive market. O True O False Reset SelectionQuestion 40 When marginal cost of production is decreasing, average total cost of production must be decreasing too. (MC | = ATC 4) True O False Reset Selection

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