Sandra’s utility function is U(x,y) = x + 2y - y. If we draw her indifference curves with x on the horizontal axis, and y on the vertical axis, then these indifference curves are everywhere downward sloping and get flatter as one moves from left to right. is this ture or false?

Bundle A (q1=1, q2=8) and bundle B (q1=6, q2=2) are on the same indifference curve for an individual. The slope of the indifference curve at bundle A is MRS=−2 and the slope of the indifference curve at bundle B is MRS=−1/4. Suppose the individual has $10 to spend (y=10) on a bundle of the goods. Which set of prices would the individual prefer to face: (p1=1& p2=2) or (p1=2 & p2=1)? A. They are indifferent to the two different sets of prices B. They prefer a price of $1 for good #1 and a price of $2 for good #2 C. They prefer a price of $2 for good #1 and a price of $1 for good #2

Can you provide solutions for d-h? Thank you!

Q1. For each of the utility functions below, show whether the indifference curve for U = 8 is convex or not by showing whether the MRS is diminishing or not as x increases. a. U (x, y) = x + 2y b. U (x, y) = x³y² 1 c. U (x, y) = x² + 2y d. U (x, y) x² + y² =

Gina is at a toy store and is buying toy T-Rex's (x), which cost pe, and toy yaks (y), which cost py. Her income is I. She likes 3 T-Rex's as much as she likes 4 yaks. These toys are perfect substitutes for her.

Consider a consumer with utility function u(x1, x2) = min{4 min{x1, x2}, x1 + x2} (a) Draw indifference curves passing through points (2, 2), (1, 2) and (4, 2). Make sure you correctly determine kink points. What properties of the preferences can you deduce from the shape of indifference curves? (b) When X = R2 +, does UMP have a solution when p1 = p2 = 0? What property of the preference relation did you use to get your answer? (c) Assume that prices are such that p1, p2 2 0 and that p` > 0 for some `e {1, 2} (i.e. the price of at least one good is positive). Derive Walrasian demand. What are the prices for which Walrasian demand is single-valued?

Could Figure 3.2 be a single indifference curve if preferences are monotonic?