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Q2: Perfect Complements: Let U = min[X, 3Y] Rank the bundles (10, 0), (0,10), (5,5,) and (6,4) Draw the indifference curve through (5,5) Calculate the
Q2: Perfect Complements: Let U = min[X, 3Y]
- Rank the bundles (10, 0), (0,10), (5,5,) and (6,4)
- Draw the indifference curve through (5,5)
- Calculate the MRS at bundles(10, 0), (0,10), (5,5), and (6,4)
- Is this utility function Convex? Show and explain.
- Is this utility function Monotonic? Show and explain.
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Managerial Economics and Organizational Architecture
Authors: James Brickley, Clifford W. Smith Jr., Jerold Zimmerman
6th edition
73523143, 73523149, 978-0073523149
