3. Consider the utility function u(x, y) = - (v41) (a) Find the equation for the marginal utility for x and one for marginal utility of y. (b) Find an equation of the form y = f(x) that describes the indifference curve for utility equal to -1/2. (c) Argue that the utility values all lie inſthe interval[-1,0] (d) Does the utility function v(x, y) = x + 2y represent the same preferences as и(х, у)? (e) Does the utility function w(x, y) = x + y represent the same preferences as

3. Consider the utility function u(x, y) = - (v41) (a) Find the equation for the marginal utility for x and one for marginal utility of y. (b) Find an equation of the form y = f(x) that describes the indifference curve for utility equal to -1/2. (c) Argue that the utility values all lie inſthe interval[-1,0] (d) Does the utility function v(x, y) = x + 2y represent the same preferences as и(х, у)? (e) Does the utility function w(x, y) = x + y represent the same preferences as

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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