Question: The optimization problem below indicates a utility maximization problem for Claire. I n the problem, x and y indicate Claire's daily demand for good 1
The optimization problem below indicates a utility maximization problem for
Claire. the problem, and indicate Claire's daily demand for good and
respectively, and indicates her daily income dollars Which the
following statements not true?
subject
Claire's utility function quasiconcave.
For every constant I the associated Lagrangian has a unique stationary point.
her income sufficiently small, the problem has a corner solution.
When her daily income $ I the marginal utility income Claire
two units.
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