Find marginal utilities of substitutional between x and y

Reference no: EM13245266

For each of the following utility functions, find the marginal utilities (MUx and MUy) and the marginal rate of substitutional between x and y (MRSxy) and explain whether MRSxy is diminishing or not.

a) u(x,y) = x1/2y

b) u(x,y) = x1/3y2/3

c) u(x,y) = x2+3y-2

Reference no: EM13245266

Questions Cloud

The mandates were nothing but colonialism : The Mandates were nothing but colonialism with a new name”. Do you agree or disagree with this statement. Discuss with specific reference to the different mandates given to Britain and France after WWI.

What is the potential drop within the battery : What is the potential drop within the battery if the internal resistance is 4.3ohms and a current of 2.7 ampere is passed through it

Explain what is the net ionic equation of the reaction : What is the net ionic equation of the reaction of \rm ZnCl_2 with \rm NaOH

Archaeology can be defined as the study of past cultures : Archaeology can be defined as the study of past cultures through their material remains. Discuss in your essay what material remains you consider most significant for the understanding of Greek civilization and why.

Find marginal utilities of substitutional between x and y : For each of the following utility functions, find the marginal utilities (MUx and MUy) and the marginal rate of substitutional between x and y (MRSxy) and explain whether MRSxy is diminishing or not.

Define a mechanism for the reaction : Write a mechanism for the reaction. Include arrows to show electron flow. Number and write out each step individually.

Britain’s contradictory promises during the first world war : Britain’s contradictory promises during the First World War had a decisive role in drawing the map of the Middle East.” Discuss.

Show the new budget se of the government taxes : Suppose that the government taxes (at the new set of prices P'x = 1, P'y = 2 ) the consumer an extra 1/2 dollar for each unit of x he buys beyond 70 units. That is no tax for x =70.

Compute the number of kilograms of refrigerant : calculate the number of kilograms of refrigerant that must be evaporated to freeze a tray of 17 one ounce ice cubes starting with water at 15C, Heat capacity of water is 4.184 j/gC deltaH of fussion of water = 333 j/g.

User Account

All Pages