Raymond's Preferences Are Represented by the Utility Function U(x, Y)

question 7

Multiple Choice

Raymond's preferences are represented by the utility function U(x, y) = if y > 0 and U(x, y) = 0 if y = 0.

• A) Raymond has indifference curves that are rectangular hyperbolas.
• B) Raymond prefers more of each good to less.
• C) Raymond has quasilinear preferences.
• D) Raymond has a bliss point.
• E) Raymond has indifference curves that are upward-sloping straight lines if y > 0.

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