1. Consider the utility function U(x, y) = 6x + 4y. MUx=6. MUy=4. a. Is the assumption that more is better satised for both goods? Why? Explain. b. Does the marginal utility of x diminish, remain constant, or increase as the consumer buys more x? Explain. Does the marginal utility of y diminish, remain constant, or increase as the consumer buys more y? Explain. c. What is MRSx, y? d. Is MRSx, y diminishing, constant, or increasing as the consumer substitutes x for y along an indifference curve? e. On a graph with x on the horizontal axis and y on the vertical axis, draw a typical indifference curve. Indicate on your graph whether the indifference curve will intersect either or both axes. 2. Devin always drinks his 8 oz of Diet Coke with 2 oz of Captain Morgan. Each beverage drank in this way provides Devin 15 units of utility. Excess Captain Morgan or excess Diet Coke do not add to Devin's utility. Explain the nature of Devin's utility function (cg, what kind of utility inction is this? What is the functional form?), and indicate the form of his indifference curve map (e.g., graph his indifference curves)