Question: 7) Use graphs where necessary and EXPLAIN whether the following statements are true or false: (a) If someone has the utility mction U = 1,000

7) Use graphs where necessary and EXPLAIN whether the following statements are true or false: (a) If someone has the utility mction U = 1,000 + 2 min (x, y) then x and y are perfect complement goods for that person. (b) With Wpreferences, the slope of indifference curves is constant along all rays through the origin. (c) The marginal rate of substitution measures the distance between one indifference curve and the next one. (d) Me has an indifference curve with equation x2 = 20 4x1\". When We is consuming the bundle (4,16), his marginal rate of substitution in absolute value is 5/4

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