Suppose a consumer 's preferences over x1 and x2 can be represented by the utility function U(x 1 , x 2 ) 6x 1 1 3 x 2 Are these preferences consistent with the hypothesis of diminishing MRS ...

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Suppose a consumer's preferences over x1 and x2 can be represented by the utility function U(x 1

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Suppose a consumer's preferences over x1 and x2 can be represented by the utility function U(x₁, x₂) = 6x₁^1/3+ x_2.

Are these preferences consistent with the hypothesis of diminishing MRS?

Posted Date: Jun 21, 2024 04:03 AM

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Suppose a consumer's preferences over x1 and x2 can be represented by the utility function U(x 1

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