Henry's Utility Function Is X² + 16xw + 64w², Where

question 12

Multiple Choice

Henry's utility function is x² + 16xw + 64w², where x is his consumption of x and w is his consumption of w.

• A)Henry's preferences are nonconvex.
• B)Henry's indifference curves are straight lines.
• C)Henry has a bliss point.
• D)Henry's indifference curves are hyperbolas.
• E)None of the above.

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Definitions:

Aphagia

The inability or refusal to swallow, leading to a failure to eat.

Speak

To produce words in order to convey information, an opinion, or a feeling.

-oid

A suffix used in English to create adjectives meaning "like or resembling," often used in scientific terminology.

Mind

The aspect of intellect and consciousness experienced as combinations of thought, perception, memory, emotion, will, and imagination.