Find marginal utilities of substitutional between x and y

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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

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