Suppose the utility function is U (x, y) = 2x + y and Py = 2. Which of the following would lead the consumer to have more than one utility maximizing basket? a) pz = 2 b) P = 1 c) Given the utility function and py, the consumer will always have only 1 utility maximizing basket. d) p = 3 4 Scanned with CamScanner Suppose the utility function is U (z,y) = 6r+y. Finding the intersection of the tangency condition and budget line yields y=-. Which of the following is true when < Pe a) The demand for y is negative. b) The demand for y is positive. The demand for y is 0. d) The demand for r is negative. e) The demand for an is 0. Suppose that the price of good z decreases. If the income effect is negative and larger in magnitude than the substitution effect. What can we say? a) Good a is a normal good.->Pos income effect b) None of the other answers are correct. Scontoafers goed.Ca d)) Good z is a Giffen good.