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For the utility functions below, derive the marginal utilities of good x1 (MUx1) and x2 (MUx2), and the marginal rate of substitution (MRS). a. U(x1,x2)=x1x2
For the utility functions below, derive the marginal utilities of good x1 (MUx1) and x2 (MUx2), and the marginal rate of substitution (MRS). a. U(x1,x2)=x1x2 b. U(x1,x2)=lnx1+lnx2 c. U(x1,x2)=x1x12 d. U(x1,x2)=(x1+x2)1/
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