What happens to the mrs, what is the marginal utility of X?

What happens to the mrs

Assignment Help Business Economics

Reference no: EM13149065

A consumer buys only two goods, X & Y. a) If the MRS between X and Y is 2 and the marginal utility of X is 20, what is the marginal utility of Y? b) If the MRS between X and Y is 3 and the marginal utility of Y is 3, what is the marginal utility of X? c) If a consumer moves downward along an indifference curve, what happens to the marginal utilities of X and Y? What happens to the MRS?

Reference no: EM13149065

Questions Cloud

Find confidence intervals for the coefficients : Explain briefly how each of the variables affects the value of an MLB franchise (i.e., use the variable definitions above to interpret, in words, the coefficient estimates with regard to each variable).

How will the chromosomes of the two daughter cells look : Assume that mammalian cells are grown in culture in the presence of fluorescent nucleotides for several generations so that all of the DNA in all of the chromosomes is fluorescent.

Expansion of the basic accounting equation : Discuss the expansion of the basic accounting equation to include revenues and expenses

Probability that randomly selected employee have salary : A standard deviation of $5000. What is the probability that a randomly selected employee will have a starting salary of at least $31ooo?

What happens to the mrs : what is the marginal utility of X? If a consumer moves downward along an indifference curve, what happens to the marginal utilities of X and Y? What happens to the MRS?

Define chemical potential energy from rotating turbines : chemical potential energy from rotating turbines into thermal energy. B) electrostatic energy from rotating turbines into chemical energy

Find the prices corresponding to bertrand-nash equilibrium : Two firms with differentiated products compete in prices with demands: q1: 1-P1+0.5P2 q2: 1-P2+0.5P1 Suppose that both firms can produce at the same constant marginal cost c. a. Draw the best response functions. b.Find the prices corresponding to th..

Show analytically that equilibrium price under cournot : Show analytically that equilibrium price under Cournot is greater than price under perfect competition but lower than monopoly price.

Change in irr ranking of two projects : Explain why the short-term project might be higher ranked under the NPV criterion if the cost of capital is high whereas the long-term project might be deemed better if the cost of capital is low. Would changes in the cost of capital ever cause a ..

User Account

All Pages