Goluki's preferences are given by the following utility function:1/3U(q1, 42) =1/3+ 92where q, is the number of cups of tea and q2 is the number of cookies.Select all that applies:a) Her preferences satisfy "more is better"b) Her indifference curves are L-shapedc) Her income-consumption curve is upward sloping but not a straight lined) Cookies is a normal good for here) Her demand function for cookies is a downward sloping but not a straight linef) Her Engel curve for tea is upward sloping straight lineg) none of the above

Goluki's preference are given by U(q1, q2) = q11/3 + q21/3 Where, q1 is the number of cups of…

Answered: 1/3 U(qı, q2) = qi'° + ", 1/3 where q,…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Goluki's preferences are given by the following utility function:
1/3
U(q1, 42) =
1/3
+ 92
where q, is the number of cups of tea and q2 is the number of cookies.
Select all that applies:
a) Her preferences satisfy "more is better"
b) Her indifference curves are L-shaped
c) Her income-consumption curve is upward sloping but not a straight line
d) Cookies is a normal good for her
e) Her demand function for cookies is a downward sloping but not a straight line
f) Her Engel curve for tea is upward sloping straight line
g) none of the above

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however, option e mentions upward sloping straight line, did you simply mean upward sloping curve or you meant upward sloping straight line. Please also let me know if option F is correct

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