An individuals utility function is given by U = 340x1 + 960x2 + 2x1¤2 – 2x – x/2, when the weekly amount of leisure is x1 = 132 and earned income is x2 = 760 answer the following: 1. The marginal utility of 1 is 2. The marginal utility of x2 is 3. Use the small increments formula to estimate the change in the utility when x1 decreases by 1 and x2 increases by 4. The change 4. Does the law of diminishing marginal utility hold? 5. The MRCS at a given values is Enter non-integer numerical values as decimals to at least 3 decimal places. Note: you must use a. and not , for a decimal point. Next page ng from video in SVG Jump to... Mock раper - format

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