(Answered) True of false please explain whya suppose jakes preferences

Management Studies

True of False please explain why

(a) Suppose Jake's preferences over pizzas and books can be represented by a utility function. After a price drop in pizzas, his utility increases from 50 to 100. This means that he is now twice as happy as he was before the price drop.

(b) A consumer always chooses the consumption bundle that maximizes her marginal utility, given her budget constraint.

(c) Connie consumes cookies and coffee. She always takes one cup of cookies with one cup of coffee. If the price of coffee drops, Connie's utility pops.

(d) If a consumer has Cobb-Douglas preferences, then neither of the two goods she consumes can be a luxury good.

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