What is ted''s marginal rate of substitution

Reference no: EM13177454

Ted has preferences given by the utility function U(K,L) = K + 2L where K =pounds of Kale per month and L = pounds of lettuce per month.
a. What is Ted's Marginal Utility of Kale? What is Ted's Marginal Utility from Lettuce?
b. If Kale is on the horizontal axis, what is Ted's Marginal Rate of Substitution?
c. Ed has the utility function U(C,M) = ?, where C = number of comic books

Reference no: EM13177454

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