Solution-Amber marginal rate of substitution

Amber marginal rate of substitution

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Reference no: EM131560919

Amber thrives on nuts and berries. Her preferences are represented by the utility function , where is her consumption of nuts and is her consumption of berries.

a) Amber consumes 9 units of nuts and 10 units of berries. What is her utility?

b) Now, her consumption of nuts is reduced to 4 units, but she is given enough berries so that she has the same utility as before. After this change, how many units of berries does Amber consume?

c) What is Amber's marginal rate of substitution, MRS, when she is consuming the consumption bundle (9, 10)? (Give a numerical answer).

Reference no: EM131560919

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Amber marginal rate of substitution

Reference no: EM131560919

Reference no: EM131560919

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