Jim's Utility Function Is U(x, Y) = Xy

question 5

Multiple Choice

Jim's utility function is U(x, y) = xy. Jerry's utility function is U(x, y) = 1,000xy + 2,000. Tammy's utility function is U(x, y) = xy(1 - xy) . Oral's utility function is - . Billy's utility function is . Pat's utility function is U(x, y) = -xy.

• A) No two of these people have the same preferences.
• B) They all have the same preferences except for Billy.
• C) Jim, Jerry, and Pat all have the same indifference curves, but Jerry and Oral are the only ones with the same preferences as Jim.
• D) Jim, Tammy, and Oral all have the same preferences.
• E) None of the above.

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