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Is mrs diminishing as jane gets more f and more f

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Jane purchases food and clothing and has utility U(F,C) = 2FC with marginal utilities MUC = 2F and MUF = 2C. Let PF = $2 and PC = $10. Jane faces a weekly budget constraint $500.

1. Is the assumption that more is better satisfied for both goods?
2. Is MRS diminishing as Jane gets more F and more F?
3. What is Jane's budget constraint? Find slope.
4. What is the optimal basket that maximizes Jane's utility?

Reference no: EM13547907

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