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Qgiven yues utility function u xy 10x 7ynbsp1is mrsxy

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Reference no: EM13375489

Q.Given Yue's utility function U (x,y) = 10x + 7y 

1.Is MRSx,y diminishing, constant, or increasing as the consumer substitutes x for y along an 
indifference curve? Explain

Q.Di's utility function is U(x,y) = x^2 y^0.5

1.Does the marginal utility of x diminish, remain constant, or increase as the consumer buys more x? 
Explain

Reference no: EM13375489

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