Suppose that the following utility function is given U(X,Y) = -X-y which of the following is correct? OXis a good and Y is a bad and indifference curve is negatively sloped. Both X and Y are goods and indifference curve is negatively sloped. Both X andY are bads and indifference curve is negatively sloped. OYisa good and X is a bad and indifference curve is positively sloped.

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter3: Preferences And Utility
Section: Chapter Questions
Problem 3.2P
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Suppose that the following utility function is given U(X,Y) = -X-ywhich of the following is
correct?
X is a good and Y is a bad and indifference curve is negatively sloped.
Both X and Y are goods and indifference curve is negatively sloped.
Both X and Y are bads and indifference curve is negatively sloped,
OYisa good and X is a bad and indifference.curve is positively sloped.
Transcribed Image Text:Suppose that the following utility function is given U(X,Y) = -X-ywhich of the following is correct? X is a good and Y is a bad and indifference curve is negatively sloped. Both X and Y are goods and indifference curve is negatively sloped. Both X and Y are bads and indifference curve is negatively sloped, OYisa good and X is a bad and indifference.curve is positively sloped.
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