Question: what is the answer to this question? Can you explain in detail? 5. An individual's preferences are represented by the utility function U(X, Y) =(X1/2

what is the answer to this question? Can you explain in detail?

what is the answer to this question? Can you explain in detail?

5. An individual's preferences are represented by the utility function U(X, Y) =(X1/2 + yl/2)? Which of the following statements is false? d a. The marginal utility of y decreases as y increases, holding x constant. b. Preferences are monotonic in both goods. c. The marginal rate of substitution of x for y increases as y increases, holding x constant. d. The consumer is willing to give up an increasing amount of good y for each additional unit of good x, to remain as well off

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