Suppose for Some Utility Function That $\mathrm { MUx } = 5 \mathrm { y } \text { and } \mathrm { MUy } = 7 \mathrm { x }$

question 47

Multiple Choice

Suppose for some utility function that $\mathrm { MUx } = 5 \mathrm { y } \text { and } \mathrm { MUy } = 7 \mathrm { x }$ . Which of the following is correct?

• A)The assumption that more is better is satisfied for both goods.
• B)This utility function will violate the assumption that preferences are complete.
• C)The indifference curves for this utility function will be straight lines with a slope of -1.
• D)The indifference curves will have a diminishing marginal rate of substitution.

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