a. U(x,y) = 10 √ √xy. b. U(x, y) = xy. c. d. Which of the following utility functions represent the same preferences as U (x,y) = √√√xy? a. U(x, y) = ln x + Iny. All of these represent the same preferences. If an individual's utility function is given by U(x, y) = √xy and I= 100, px = 1, py = 4, his or her preferred consumption bundle will be: a. (20, 20). b. (50, 12.5). c. (40, 15). d. (30, 15). Which of the following utility functions has the same MRS as U (x, y) 0.5 0.5 x y b. x + y 0-5 C. x +y d. (x0.5 +0.5)² 0-5 = xy?
a. U(x,y) = 10 √ √xy. b. U(x, y) = xy. c. d. Which of the following utility functions represent the same preferences as U (x,y) = √√√xy? a. U(x, y) = ln x + Iny. All of these represent the same preferences. If an individual's utility function is given by U(x, y) = √xy and I= 100, px = 1, py = 4, his or her preferred consumption bundle will be: a. (20, 20). b. (50, 12.5). c. (40, 15). d. (30, 15). Which of the following utility functions has the same MRS as U (x, y) 0.5 0.5 x y b. x + y 0-5 C. x +y d. (x0.5 +0.5)² 0-5 = xy?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter20: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 3WNG
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![Which of the following utility functions represent the same preferences as
U (x, y) = √x.y?
a. U(x, y)
b. U(x, y) = xy.
= 10√xy.
U(x, y) = ln x + Iny.
c.
d. All of these represent the same preferences.
If an individual's utility function is given by U(x, y) = √√xy and I = 100,
px = 1, py = 4, his or her preferred consumption bundle will be:
a. (20, 20).
b. (50, 12.5).
c. (40, 15).
d. (30, 15).
Which of the following utility functions has the same MRS as U (x, y) = xy?
0.5 0.5
x y
a.
b.
C. x
d. (x0.5 +0.52
x + y
0.5
0.5
+y](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F317a1ce3-ee76-4c7e-b1a6-41d8466a7be8%2F2d4e4836-9590-4af2-bdc4-b8a0627a66b2%2Fiwtst5s_processed.png&w=3840&q=75)
Transcribed Image Text:Which of the following utility functions represent the same preferences as
U (x, y) = √x.y?
a. U(x, y)
b. U(x, y) = xy.
= 10√xy.
U(x, y) = ln x + Iny.
c.
d. All of these represent the same preferences.
If an individual's utility function is given by U(x, y) = √√xy and I = 100,
px = 1, py = 4, his or her preferred consumption bundle will be:
a. (20, 20).
b. (50, 12.5).
c. (40, 15).
d. (30, 15).
Which of the following utility functions has the same MRS as U (x, y) = xy?
0.5 0.5
x y
a.
b.
C. x
d. (x0.5 +0.52
x + y
0.5
0.5
+y
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