1. Business
  2. Economics
  3. question 3 goluks preferences are given by the following utility...

Question: question 3 goluks preferences are given by the following utility...

Question details

QUESTION 3 Goluks preferences are given by the following utility function: uq1, 42)- 411/3+ 21/3, where q1 is the number of cups of tea and q2 is the number of cookies. Select all that applies: O a. Her preferences satisfy more is better O b. Her indifference curves are downward sloping O c. Her income-consumption curve is a straight line O d. Cookies is an inferior good for her O e. Her demand function for cookies is downward sloping O f. Her Engel curve for tea is upward sloping
Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution