Answer Happy

will be given so attempt all questions. You have 120 minutes. Good luck! SECTION I: True/False and explain. When answering you must explain why the statement is tr Illustrations can count as explanations. An answer of true or false alone will be considered wrong worth 4 points. Partial credit can be earned. 1. The utility functions, U(X, Y) and V(X, Y) = F(U(X, Y)) where F is strictly increasing f same MRS. This statement is
indicated. Partial credit will be given so attempran SECTION 1: True/False and explain. When answering you must explain why the statement is true or false. Illustrations can count as explanations. An answer of true or false alone will be considered wrong. Each question is worth 4 points. Partial credit can be earned. 1. The utility functions, U(X, Y) and V(X, Y) - FU(X, Y)) where F is strictly increasing function, have the same MRS. This statement is 2. Coach Jackson says that between any two players, he prefers the one who is taller AND faster. This means Coach Jackson's preference over players can be expressed by a utility function. it is