Find marginal utilities and marginal rates of substitution, Microeconomics

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Find marginal utilities and marginal rates of substitution

How to find a MRS for three goods.

Consider the Cobb-Douglas utility function U = U(X,Y,Z) for the case of three goods X,Y and Z defined by
U = (X,Y,Z)=(X^1/3).(Y^1/3).(Z^1/3)

What are the marginal utilities and marginal rates of substitution for this utility function?

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Microeconomics: Find marginal utilities and marginal rates of substitution

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Microeconomics: Find marginal utilities and marginal rates of substitution

Reference No:- TGS048295

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : How much overhead should be applied to customer order

Q : Problem on effective-interest method and plans

Q : How the income will differ under absorption costing

Q : Discuss a corporate cost allocation

Q : Find marginal utilities and marginal rates of substitution

Q : Tax cash outflows of eastern trucking

Q : Graph the isoquant for which quarts of chili are given

Q : Customer level indirect cost incurred

Q : How much cost would the firm anticipate

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find marginal utilities and marginal rates of substitution

Reference No:- TGS048295

Recent Questions Asked Microeconomics

Q : How much overhead should be applied to customer order

Q : Problem on effective-interest method and plans

Q : How the income will differ under absorption costing

Q : Discuss a corporate cost allocation

Q : Find marginal utilities and marginal rates of substitution

Q : Tax cash outflows of eastern trucking

Q : Graph the isoquant for which quarts of chili are given

Q : Customer level indirect cost incurred

Q : How much cost would the firm anticipate

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