Reference no: EM131263224

1. For each of the following utility functions first find the marginal utility of x and the marginal utility of Y.  Second create a chart showing the marginal utility of x for values of 1, 4, 9, 16, and 25 when y is held constant at 9 units.  Third create a chart showing the marginal utility of y for values of 9, 16, 25, 36, and 49 when x is held constant at 25 units. 

Note:  I picked easy math numbers your answers may not be realistic.  If you would like to make them more realistic, instead of using the easy square root numbers I picked start at 1 unit and increase each good by 1 unit at a time.  You will probably have to solve it to multiple decimal places however for the realistic marginal utilities.

U = XY

U = X²Y²

U = X^1/2Y^1/2

U = X³Y²

U = 5X²Y³

U = 2X^1/2Y^1/2

U = 3(√XY)