Question: Short answer and T/F/U: For True, False or Uncertain (T/F/U) say whether the statement is true, false, or uncertain, and provide a short explanation (not

Short answer and T/F/U: For True, False or Uncertain (T/F/U) say whether the statement is true, false, or uncertain, and provide a short explanation (not more than 10 lines) why. Some of these T/F/U questions are hard - they are intended to make you think. If you specify that a statement is Uncertain please explain what assumptions would make it true or false.

(5pts) (Day 3) Alvin has the utility function U(x, y) = 3x + y. Since he gets three times as much utility from x as he does from y, he will never purchase any y. (4pts) (Day 3) The only good Pierce ever buys is potatoes; he would never consider buying any other good if his income increased. T/F/U: Potatoes cannot possibly be an inferior good for Pierce. (Hint: What is Pierce's budget constraint?)

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