Question
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
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.
02U 0 U ???? = 0.
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Since the goods have independent marginal utilities this means that Since ...
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College Algebra Graphs and Models
Authors: Marvin L. Bittinger, Judith A. Beecher, David J. Ellenbogen, Judith A. Penna
5th edition
321845404, 978-0321791009, 321791002, 978-0321783950, 321783956, 978-0321845405
