Solve the following exercises: 1. For the following utility functions, graph the indifference curves for three utility levels of your choice. It is suggested to use Excel

2. For the following utility functions, determine the Marginal Rate of Substitution of x by y. For this use the operational formula that we studied in class: Use any level of utility.

3. For the following utility functions, determine the Marginal Rate of Substitution of x by y. Explain what happens to the TMS as the individual has more of x, and less than y. For this consider the following points:

utility functions

Explain what happens to indifference curves as the utility level increases.

4. Plot the indifference curves for the case of a Cobb-Douglas utility function whose parameters are = 0.10 ; = 0.90. For this, use the utility levels that are established below:

5. Suppose you like to consume, in the same proportion, 5 loaves (x) with 1 tablespoon of jam (y). Determine the perfect complement utility function for this case. Next, calculate the individual's utility when he has the following combinations:

a. 5 breads and 1 jams b. 5 breads and 2 jams c. 10 breads and 3 jams d. 10 breads and 1 jams e. 15 breads and 1 jams F. 10 breads and 2 jams g. 15 breads and 3 jams

a. U=xy b. U=x+2y c. U=min(2x,y) d. U=x+y, cuando =0.5 a. U=x0.20y0.80 b. U=9x+2y c. U=X+Y, cuando =0.5 - A:x=2,y=40 - B:x=21,y=21 - C:x=40,y=2 U=x0.30y0.70 U=7x+3y U=40