3.9 Two goods have independent marginal utilities if 0. Show that if we assume diminishing...

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3.9 Two goods have independent marginal utilities if

Show that if we assume diminishing marginal utility for each good, then any utility function with independent marginal utilities will have a diminishing MRS. Provide an example to show that the converse of this statement is not true.

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Microeconomic Theory Basic Principles And Extensions

ISBN: 9780324270860

9th Edition

Authors: Walter Nicholson

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Question Posted: Nov 12, 2024 03:01 AM

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3.9 Two goods have independent marginal utilities if 0. Show that if we assume diminishing...

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Microeconomic Theory Basic Principles And Extensions

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