Question
1. For the following utility functions, calculate their respective MRS 4x + 6y 2 x + y ln(x)y (x + 2)(y + 1) 2. Anakin's
1. For the following utility functions, calculate their respective MRS
4x + 6y
2 x + y
ln(x)y
(x + 2)(y + 1)
2. Anakin's utility function is u(x, y) = x^2 y^2 . Consequently, he has diminishing marginal rate of substitution between goods x and y. True or False? Explain your answer.
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Microeconomics
Authors: David Besanko, Ronald Braeutigam
5th edition
1118572270, 978-1118799062, 1118799062, 978-1118572276
