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Consider the utility function: U(x,y)= -4(3x-12)² - (2y-10)² Determine the marginal utility for the two commodities

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 2SQ

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Question

Consider the utility function:

U(x,y)= -4(3x-12)² - (2y-10)²

Determine the marginal utility for the two commodities

Definition Definition Satisfaction derived from the consumption of an additional unit of any commodity.

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