Multiple Choice
Madonna buys only two goods.Her utility function is Cobb-Douglas.Her demand functions have which of the following properties?
A) Her demand for one of the two goods does not depend on income.
B) Her demand for neither good depends on income.
C) Her demand for each of the goods depends on income and on the prices of both goods.
D) Her demand for each of the two goods depends only on her income and on the price of that good itself.
E) One of the goods is an inferior good and the other is a normal good.
Correct Answer:

Verified
Correct Answer:
Verified
Q31: When other variables are held fixed, the
Q32: If the price elasticity of demand for
Q33: Daisy received a tape recorder as a
Q34: Martha has the utility function U =
Q35: Mickey is considering buying a tape recorder.His
Q37: Will Feckless unexpectedly inherits $10,000 from a
Q38: Clarissa's utility function is U(r, z)= z
Q39: Katie Kwasi's utility function is U(x<sub>1</sub>, x<sub>2</sub>)=
Q40: If Charlie's utility function were X <sup>6</sup><sub>A
Q41: Murphy's utility function is U(x, y)= min{4x