1. T F Indifference curves can’t cross because people have convex preferences, meaning they like variety.

2. T F Higher indifference curves are preferred to lower indifference curves for people that have monotonic preferences.

3. T F Perfect complements are goods that consumed in a 1:1 ratio.

4. T F If the utility of bundle A is three times as large as the utility of bundle B, it means that we like bundle A three times as much as bundle B.

5. T F To find the marginal utility of a good, we just need to take the partial derivative of the utility function with respect to that good.