Homework Help is Here – Start Your Trial Now!
Business
Economics
1. If U(12, 9) = 33, U(13, 9) = 36, and U(12, 10) = 39, then the MRS at (A, B) = (12, 9) is -2 %3D %3D

1. If U(12, 9) = 33, U(13, 9) = 36, and U(12, 10) = 39, then the MRS at (A, B) = (12, 9) is -2 %3D %3D

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
See similar textbooks
icon
Related questions
Question
True or False: 1. If U(12, 9) = 33, U(13, 9) = 36, and U(12, 10) = 39, then the MRS at (A, B) = (12, 9) is –2 2. If U(5, 8) = 40, U(6, 8) = 44, and U(5, 10) = 44, then the MRS at (A, B) = (5, 8) is –1/2 3.For the Cobb-Douglas utility function with a = 2/3 and B = 1/3, the indifference curve corresponding to a utility of 3 utils is B = 27A-2 4. For the Cobb-Douglas utility function with a = 1/3 and B = 2/3, the indifference curve corresponding to a utility of 5 utils is B = 125A-2
Transcribed Image Text:True or False: 1. If U(12, 9) = 33, U(13, 9) = 36, and U(12, 10) = 39, then the MRS at (A, B) = (12, 9) is –2 2. If U(5, 8) = 40, U(6, 8) = 44, and U(5, 10) = 44, then the MRS at (A, B) = (5, 8) is –1/2 3.For the Cobb-Douglas utility function with a = 2/3 and B = 1/3, the indifference curve corresponding to a utility of 3 utils is B = 27A-2 4. For the Cobb-Douglas utility function with a = 1/3 and B = 2/3, the indifference curve corresponding to a utility of 5 utils is B = 125A-2
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS