5. b)Given that U = (X,X2), show that the following:If utility function is additive then at most one good can have non-decreasing marginalutility.There is no general relationship between the diminishing marginal utility and theconvexity of the function.i.i.Question 2

Utility Function The utility function tells us the satisfaction of using one good for other goods.…

b) Given that U = (X,X2), show that the following: %3D If utility function is additive then at most one good can have non-decreasing marginal utility. ii. i. There is no general relationship between the diminishing marginal utility and the convexity of the function. Question 2

b) Given that U = (X,X2), show that the following: %3D If utility function is additive then at most one good can have non-decreasing marginal utility. ii. i. There is no general relationship between the diminishing marginal utility and the convexity of the function. Question 2

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

b)
Given that U = (X,X2), show that the following:
If utility function is additive then at most one good can have non-decreasing marginal
utility.
There is no general relationship between the diminishing marginal utility and the
convexity of the function.
i.
i.
Question 2

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