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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