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3. Consider the utility function (, ) = +21+1 (a) Find the equation for the marginal utility for and one for marginal utility of y
3. Consider the utility function (, ) = +21+1
(a) Find the equation for the marginal utility for and one for marginal utility of y.
(b) Find an equation of the form = () that describes the indifference curve for
utility equal to -1/2.
(c) Argue that the utility values all lie in the interval [1,0]
(d) Does the utility function (, ) = + 2 represent the same preferences as
(, )?
(e) Does the utility function (, ) = + represent the same preferences as
(, )
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