1. Find the MUx, MUy , and MRS equations for each of the following utility functions. Which of the below utility functions exhibit diminishing MRS? (That is, which of the below yield convex indifference curves?). U = x0.6y0.4. U = x2 + y² X,y>0. U = 2x + 4y.

1. Find the MUx, MUy , and MRS equations for each of the following utility functions. Which of the below utility functions exhibit diminishing MRS? (That is, which of the below yield convex indifference curves?). U = x0.6y0.4. U = x2 + y² X,y>0. U = 2x + 4y.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

1. Find the MUX , MU, , and MRS equations for
each of the following utility functions. Which of
the below utility functions exhibit diminishing
MRS? (That is, which of the below yield convex
indifference curves?).
U = x0.6y0.4,
U = x2 +
y²
X,y>0.
U = 2x + 4y.
U = x*y?.
U = x®yb

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