Wanda Lott has the utility function U(x, y) = max{x, y}. Wanda's preferences are convex.

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Wanda's utility function represents a preference for having either x or y, whichever is higher. This is not a convex preference as there is no trade-off or diminishing marginal utility between x and y. Convex preferences occur when there is a diminishing marginal utility for either x or y, making the individual more willing to give up a higher quantity of one good in exchange for a smaller quantity of the other.

Wanda Lott Has the Utility Function U(x, Y) = Max{x