a) Consider the utility function of Carin where: (i) 1/2 U (9₁, 92) = 3 × 9₁ 1/3 x 92 91 = total units of product 1 that Carin consumes 92 = total units of product 2 that Carin consumes U = total utility that Carin derives from her consumption of product 1 and 2 Calculate the Carin's marginal utilities from product 1 and product 2. au au =- (MUq₁ = - and MUq2 292 0q1

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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a) Consider the utility function of Carin
where:
(i)
1/3
U (9₁, 92) = 3 × q1/² × 912²2²
91 = total units of product 1 that Carin consumes
92 = total units of product 2 that Carin consumes
U = total utility that Carin derives from her consumption of product 1 and 2
Calculate the Carin's marginal utilities from product 1 and product 2.
au
მU
(MUq₁ = and MUq2 =
0q1
даz'
Transcribed Image Text:a) Consider the utility function of Carin where: (i) 1/3 U (9₁, 92) = 3 × q1/² × 912²2² 91 = total units of product 1 that Carin consumes 92 = total units of product 2 that Carin consumes U = total utility that Carin derives from her consumption of product 1 and 2 Calculate the Carin's marginal utilities from product 1 and product 2. au მU (MUq₁ = and MUq2 = 0q1 даz'
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