Which of the Following Utility Functions Represent Preferences of a Consumer

question 50

Multiple Choice

Which of the following utility functions represent preferences of a consumer who does not have homothetic preferences?

• A)U(x, y)= xy.
• B)U(x, y)= x + 2y.
• C)U(x, y)= x + y^.5.
• D)U(x, y)= min{x, y}.
• E)More than one of the above.

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Definitions:

Pancreatic Duct

A conduit through which digestive enzymes from the pancreas are transported to the small intestine.

Pancreatic Acinar Cells

The cells in the pancreas that produce digestive enzymes, which are secreted into the small intestine.

Digestive Enzymes

Proteins secreted by the digestive tract that catalyze the breakdown of food into absorbable nutrients.

Pancreatic Islets

Clusters of cells in the pancreas that produce hormones like insulin and glucagon, regulating blood glucose levels.