QUESTION 5 Suppose that a consumer's utility is given by , u (x,y) = (2x 3. W / N A / w + 3y in
QUESTION 5 Suppose that a consumer's utility is given by , u (x,y) = (2x 3. W / N A / w + 3y in which case the marginal utilities will be given by MU x = and MUy = 3 respectively. What is the marginal rate of substitution? 1 - O 2x + 3y 2 ( 2x W/ N + 3 MRS = - 3x wl - 2y O MRS = - 2x w/ - 3y O w / - MRS = - 3y w/ 2x O w / - MRS = - 2y w / - 3x
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