Find marginal rate of substitution for indifference curve

Assignment Help Business Economics

Reference no: EM13153094

Given the following utility function: U= (2(X1) + 3(X2)^2)^3 (X1)

a) Find the marginal utility for (X1) and (X2)

b) show mathematicallt whether the mardinal utility for (X1) and (X2) is increasing or decreasing.

c) Find the Marginal rate of substitution for the indifference curve generated by the utility function.

d) Is there an amount of (X1) and (X2) that will maximize utility? Explan and show mathematically.

Reference no: EM13153094

Questions Cloud

Present level of fixed manufacturing costs : Allen Distributors has offered to purchase 5,000 saws per month at a reduced price. Burns can manufacture these additional units with no change in its present level of fixed manufacturing costs.

Explain the effect on gal1 transcription : Predict and explain the effect on GAL1 transcription, in the presence of galactose alone, of the following mutations.

What is the value of henry''s law constant for n2 : What is the value of Henry's law constant for N2 under these conditions?

Analysis of the allegory of the cave in relation : What would be a good topic for an analysis of the allegory of the cave in relation to the the history of the world?

Find marginal rate of substitution for indifference curve : show mathematicallt whether the mardinal utility for (X1) and (X2) is increasing or decreasing. Find the Marginal rate of substitution for the indifference curve generated by the utility function.

Define the structure of a conjugated diene : Propose the structure of a conjugated diene (no more six carbons) for which 1,2-addition of HBr produces

Find if two events a-b are mutually exclusive-independent : The events A and B are independent, mutually exclusive or both. If two events A and B are mutually exclusive (A B = ), then they cannot be independent if P(A) > 0 and P(B) > 0. Why?

Beginning balance in the finished goods : The beginning balance in the work in process account was $19,000 and the ending balance was $12,000. The beginning balance in the finished goods account was $35,000 and the ending balance was $58,000. Sales totaled $240,000. Selling expense was $1..

Explain fructose solution with a concentration : Explain fructose solution with a concentration f 80mg/ml, but need to take 3.5L of fructose solution with a concentration of 300 mM.

User Account

All Pages