Question
Question 5 For each utility function, determine what bundle of goods is more preferred. Show your calculations. (a) U(x1, x2) = 4(x1)^2 + 5(x2)^3 +
Question 5
For each utility function, determine what bundle of goods is more preferred. Show your calculations.
(a) U(x1, x2) = 4(x1)^2 + 5(x2)^3 + 5(x1)(x2) , for (1,4) or (3,2).
(b) U(x1, x2, x3) = 3(x1)^5(x2)^2(x3) + 5(x1)(x2) , for (1,3,2) or (2,2,2).
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Macroeconomics
Authors: Paul Krugman, Robin Wells
4th Edition
1464110379, 9781464110375
