If the utility function , for and , then the indifference curves are
Tap an option to check your answer.
1 mark, −0.33MicroeconomicsConsumer preferences and utilityMarginal rate of substitution and convexityHardabout 2 min
UoH 2021 Question 82: Consumer preferences and utility
Answer and worked solution
Checking your account…
Plain-text version
If the utility function U(x, y) = √(x² + y²), for x and y ≥ 0, then the indifference curves are (A) Convex (B) Concave (C) Quasi-concave (D) Not enough information
Also written as: If the utility function U(x, y) = sqrt(x^2 + y^2), for x and y >= 0, then the indifference curves are
Consumer preferences and utility has come up 93 times in 7 exams since 2007.
What this question tests
This question is on Marginal rate of substitution and convexity, part of Consumer preferences and utility in Microeconomics.
The rate at which a consumer trades one good for another, and why it diminishes along a convex indifference curve.
TestStop has 11 past-paper questions on this subtopic.
Similar questions from other papers
- Which among the following is not an assumption of Indifference Curve?
- Madhu's utility function is given by U=max (2C,3F), where C represents the amount of cloth and F represents the amount of food. Her preferences DO NOT satisfy which one…
- Which of the following is NOT the assumption of the Revealed Preference Hypothesis?
- If the demand function is given as P = 110 - Q² and market equilibrium is attained at P₀ = 29 and Q₀ = 9, calculate the consumer surplus.
- A Constant Elasticity of Substitution (CES) utility function is given as: U_(CES)(z₁,z₂) = 1/δ(z₁^δ + z₂^δ) where z₁ and z₂ are two goods, and δ ≤ 1, δ ≠ 0. A…
Question from the UoH 2021 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.