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Suppose an indifference curve is written asU0=100F1/4S3/4, where F and S represent food and shelter, respectively. U0is a given utility level. TreatU0as a constant.What is

Suppose an indifference curve is written asU0=100F1/4S3/4, where F and S represent food and shelter, respectively. U0is a given utility level. TreatU0as a constant.What is the slope of the indifference curve (dF/dS)? (Hint: use implicit differentiation.)

Given the demand function P=-Q2-4Q+96. Find the price elasticity of demand when P=51. If the price rises by 2%, calculate the corresponding percentage change in demand.

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