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?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please show work. Thanks

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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