Consider the utility function u(x, y) \x+2y+1/ (a) Find the equation for the marginal utility for x and one for marginal utility of y. (b) Find an equation of the form y = f (x) that describes the indifference curve for utility equal to -1/2. (c) Argue that the utility values all lie inſthe interval [-1,0]
Consider the utility function u(x, y) \x+2y+1/ (a) Find the equation for the marginal utility for x and one for marginal utility of y. (b) Find an equation of the form y = f (x) that describes the indifference curve for utility equal to -1/2. (c) Argue that the utility values all lie inſthe interval [-1,0]
Chapter1: Making Economics Decisions
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3. Consider the utility function u(x, y) = - (z41)
x+2y+1/
(**)-
(a) Find the equation for the marginal utility for x and one for marginal utility of y.
(b) Find an equation of the form y = f (x) that describes the indifference curve for
utility equal to -1/2.
(c) Argue that the utility values all lie in the interval [-1,0]
(d) Does the utility function v(x, y) = x + 2y represent the same preferences as
и(х, у)?
(e) Does the utility function w(x, y) = x + y represent the same preferences as
и(х, у)?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fba83ad60-b464-4143-be2d-7d8ef85f160c%2F91986c7d-b2c4-49d7-a343-c223a69e7c4c%2F8yorybu_processed.png&w=3840&q=75)
Transcribed Image Text:1
3. Consider the utility function u(x, y) = - (z41)
x+2y+1/
(**)-
(a) Find the equation for the marginal utility for x and one for marginal utility of y.
(b) Find an equation of the form y = f (x) that describes the indifference curve for
utility equal to -1/2.
(c) Argue that the utility values all lie in the interval [-1,0]
(d) Does the utility function v(x, y) = x + 2y represent the same preferences as
и(х, у)?
(e) Does the utility function w(x, y) = x + y represent the same preferences as
и(х, у)?
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