1 find the marginal utility of each good 2 determine


For the following utility function,

1. Find the marginal utility of each good.

2. Determine whether the marginal utility decreases as consumption of each good increases( ie does the utility function exhibit diminishing marginal rate of substitution.

3. Find the Marginal rate of substitution

4. Discuss how MRSXY changes as the consumer substitutes X for Y along an indifference curve

5. Derive the equation for the indifference curve where utility is equal to a value of 100.

6. Graph the indifference curve where utility is equal to a value of 100.

a. U(X,Y) =5X+ 2Y
b. U(X,Y) =X0.33Y0.67
c. U(X,Y)= 10X0.5 +5Y

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Microeconomics: 1 find the marginal utility of each good 2 determine
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