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Question 3 1 pts Goluki's preferences are given by the following utility function: 1/3 1/3 U(q1?q2) : '11 +q2 , where q1 is the number
Question 3 1 pts Goluki's preferences are given by the following utility function: 1/3 1/3 U(q1?q2) : '11 +q2 , where q1 is the number of cups of tea and q2 is the number of cookies. Select all that applies: C] a) Her preferences satisfy "more is better" C] b) Her indifference curves are downward sloping C] c) Her income-consumption curve is a straight line C] d) Cookies is an inferior good for her C] e) Her demand function for cookies is a downward sloping straight line 1:] f) Her Engel curve for tea is upward sloping E] g) none of the above Reshad's preferences over goods 1 and 2 are given by the following utility function: Select all that applies: C] a) His preferences satisfy "more is better" C] b) His preferences fail the transitivity assumption C] c) His indifference curves are downward sloping but not straight lines [:1 d) His preferences are convex C] e) He dislikes good 2 1 D f) Marginal rate of substitution for his preferences is given by M R312 : 2 (1 + Q2) E] g) none of the above
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