Charles utility function is uxyxy annes utility function is, Ask an Expert

Economics

Charles' utility function is U(x;y)=xy. Anne's utility function is U(x;y)=1000xy. Diana's utility function is xy. Elizabeth's utility function is U(x; y)=-1/(xy+1).Fergie' s utility function is xy-10000. Margaret's utility function is x/y. Philip's utility function is x(y + 1). (the goods x and y are two very expensive goods. We leave you to speculate about what they are.) Which of these persons have the same preferences as Charles?

(a) Everybody except Diana

(b) Anne and Fergie

(d) None of them

(e) All of them

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91845034

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