10. which of the utility function U=5x+3y^2. the indifference curves for this utility function.  @) will have a constant marginal rate of substitution of x for y as x increases.  B) will have an increasing marginal rate of substitution of x for y as x increases.  please explain

Q: Calculate the marginal rate of substitution (MRS12) for the following utility function: U(91,92)…

A: Marginal rate of technical substitution is the rate at which one input is the substituted for other.

Q: Caroline spends her money on movie tickets and concert tickets. Last summer, the price of concert…

A: Caroline spends her money on movie tickets and concert tickets. Last summer. the price of concert…

Q: Suppose that the following a quasi-linear utility function is given U(X,Y) = U(X,)=-x-²-y-,Find…

A: We are going to solve above question using Marginal Rate of Substitution formula.

Q: Calculate the marginal rate of substitution (MRS12) for the following utility function: U(91, 92) =…

A: Marginal rate of substitution is the rate at which one good can be substituted for other.

Q: Consider a consumer with preferences represented by the utility function: u (x, y) = x+y a. Draw a…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: It is common for supermarkets to carry both generic (store-label) and brand-name (producer-label)…

A:

Q: suppose that a consumer has a utility function U=AX^2Y^2 Which of the following statements is false?…

A: The given infomation:The utility function can be written as follows:

Q: 1. Suppose a consumer has a utility function given by u(x1, x2) = xỉx2. a. Compute the marginal rate…

A: In the above Figure utility function for V is not full, maybe the picture is not updated full, so I…

Q: umer has the utility function U(x1.x2)=10(x1)°(x2)² rginal utility of x1 (MU;) is which of the…

A: (3) a)  U (X1 , X2) = 10(X1)3(X2)2                       MU1= ∂(U)∂x1= 10(X2)2 3(X1)2Taking partial…

Q: For the utility function U(X,Y)= 6X0.50.5, the marginal rate of substitution MRSxy is: O Y/X. O X/Y.…

A: Given:- Utility function, U(X,Y)=6X0.5Y0.5 To calculate:- MRSxy=?

Q: Peter's utility function: U(x, y) = 4x + y Peter's income is 200 and the price of good x is 5 and…

A: The word utility means satisfaction. Consumer spends his income for the consumption of goods and…

Q: A maximizing consumer with preferences u = x^(1/2)+ y^(1/2) pays pY= 4 and pX= 4 and spends 24…

A: Indifference curve: It can be defined as the possible combination of two goods that provide the same…

Q: (d) What point in the graph will lead to utility maximizing with the budget line LZ and the…

A: The budget line is a graphical representation of all potential combinations of the two commodities…

Q: Suppose that the following utility function is given U(X,Y) = x +Y. Which of the following is…

A: D) We have non-convex preferences since Law of diminishing Marginal Rate of Substitution fails to…

Q: Compute marginal utilities and marginal rate of substitution for each of the utility functions given…

A:

Q: Compute marginal utilities and marginal rate of substitution for each of the utility functions given…

A: The function which helps in measuring the satisfaction or welfare of a consumer as being consumption…

Q: Derive the Utility Function to find the equation for the indifference curve. U(x, y) = (.6T.5 +…

A: In order to find the equation for the indifference curve from the utility function, we simply…

Q: 11. Suppose an individual has a daily income of Rs. 1,500 and spends it to consume commodities X and…

A: Income of the individual = 1500 Price of X = 75 Price of Y = 50

Q: Given the indifference curve shown to the right: Q 10- a. What is the marginal rate of substitution…

A: * answer :-  * a) Marginal Rate of Substitution = Change in good Y ( books)/ change in good X( CD)…

Q: Suppose you're facing a problem with quasilinear preferences over goods x₁ and x2 represented by the…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…

Q: Suppose that the following utility function is given U(X.Y) = InX +Y. Which of the following is…

A: Answer: Option C (We have convex preferences since the law of diminishing marginal rate of…

Q: Given the following direct CES form utility function: U=[x +xF where, x, & x, are two commodities…

A: The indirect utility function refers to the Function of income and prices.For simplicity let, Xa = X…

Q: Calculate the marginal rate of substitution (MRS12) for the following utility function: U(q1, 92) =…

A: "Marginal rate of substitution indicates the rate at which a consumer can give up some units of a…

Q: Refer to Figure#4. Which of the following statements is NOT true for a consumer who moves from point…

A: When the consumer moves from point A to C it has many implications

Q: 1. Find the MUx, MUy , and MRS equations for each of the following utility functions. Which of the…

A: Since you have posted multiple parts question, we will solve the first three for you. If you want…

Q: a. Is the “more is better” assumption satisfied for both goods? Explain. b. What type of function is…

A: Utility Function id given as U(x,y) = 0.5x0.4y0.6

Q: 4. Below is the Slutsky substitution matrix for a consumer endowed with locally non-satiated and…

A: The Slutsky matrix work is the vital item in near statics examination in buyer hypothesis. It…

Q: Calculating the marginal rate of substitution (MRS). Crystal enjoys eating muffins and scones. The…

A: At point A; U(X,Y)=U(10,70)  At point B; U(X,Y)= U(15,45)  MRS=Change in good YChange in good X…

Q: Question 8 Given the utility function U = 2x+5y, what is the equation of the indifference curve that…

A: Utility refers to the satisfaction derived from the consumption of good. The utility function shows…

Q: 1. Find the MRS (marginal rate of substitution) for the following Utility functions: 1. U(x, y)= 2.…

A: INTRODUCTION: The marginal rate of substitution (MRS) is the quantity of one good that a consumer…

Q: Suppose that the following utility function is given U(X,Y) = x2+Y Which of the following is…

A: A utility function is said to be convex utility preference if its quasi concave which implies the…

Q: Write the general equation of the MRS for each utility function. Write the equation for the…

A: Since you have asked multiple questions with multiple subparts, so as per Bartleby's guideline we…

Q: Mrs. Griffiths earns $5000 a week and spends her entire income on dresses and handbags, since these…

A: Marginal rate of substitution is the ration of marginal utilities of both product.

Q: What is the marginal rate of substitution (MRS) for the utility function U(x, y) = x° + y®? The…

A: Given: The utility function is: Ux, y = xp + yp To Find: The marginal rate of substitution of Good x…

Q: Suppose that the following utility function is given U(X,Y) = X//3y1/2, which of the following is…

A: Given  Utility function  U=x1/3y1/2   ......... (1)

Q: Question 17 When considering her budget, the highest indifference curve that a consumer can reach is…

A: An indifference curve shows the consumer’s preference scale between two goods.

Q: 1. Graph a typical indifference curve for the following utility functions and determine whether they…

A: Law of diminishing marginal utility states that every additional unit consumed provides lesser and…

Q: Gopal is a rational consumer and consumes two goods X and Y. Is a cardinal measure of utility or…

A: Indifference curve shows the various combinations of two commodities that provides the same level of…

Q: Define the Marginal Rate of Substitution between two goods (X and Y). If a consumer’s preferences…

A: Answer: Definition of the marginal rate of substitution (MRS): The marginal rate of substitution…

Q: 07 Assumption on which indifference curve is based: (a) Marginal rate of substitution is falling.…

A: # The correct answer is (D)

Q: 3. For the following utility functions: 1. U(X, Y)= XY² 2. 3. U(X, Y)= X² + Y² U(X, Y)= XY + 10Y a.…

A: 1. U(X, Y) = X * Y ^ 2

Q: Jason has the following utility function: U = F2C where F is food and C is clothing. Clothing is…

A: The marginal rate of substitution (MRS) is that the quantity of smart|an honest|a decent} that a…

Form Utility

The term utility in general refers to the satisfaction earned from usage of a particular product or service. Utility always plays an important role because it influences various important elements like demand & thereby the price of the good or service as well. Though utility is not easy to measure, various types of economic models can be used indirectly. There can be various types of utilities like economic utility, marginal utility, cardinal utility, form utility.