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Question

Which of the following is not true?

  •  A. Given the utility function U = A x + B y where, A and B are constant. Here, x and y are perfect substitutes.
  •  B. Given the utility function U = 10 Min (2 x, 3 y), x and y are perfect complements.
  •  C. Given U(x, y) = xy, it is possible to substitute one good for another, but not perfectly. 
  •  D. Given a Cobb-Douglas function, we cannot substitute x for y to get the same level of satisfaction. 

Answered by Expert Tutors
Subject: Business, Economics
Which of the following is not true?
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