Q;mariyam utility function is U(x,y)=x^0.80y^0.20.suppose that the price of x is 5,the price of y is 10 and her income is 100. on the graph draw her budget line use laGrange method to choose the optimal bundle for mariyam also show optimal bundle graphic

Q: 1.Briefly discuss the law of diminishing marginal utility.

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Revealed Preferences and Budget Constraint Analysis

Revealed means “Let Out,” and Preference means “Choice”; Choice Reveals Preference.