7 How to solve this question? Which of the following statements is true about the utility function: U(A, B) = A³ + B4, where good A is measured on the horizontal axis?OThe MRS is 44²; the utility function will be convex to the origin, indicating that averages are better than extremes; the MRS will fall in absolute value as we move down the indifference curve.38³The MRS is 343; the utility function will be concave to the origin, indicating that extremes are better than averages; the MRS will rise in absolute value as we move down the indifferencecurve.The MRS is 3A² + 4B³; the utility function will be convex to the origin, indicating that averages are better than extremes; the MRS will fall in absolute value as we move down the indifferencecurve.O The MRS is 3A + 4B; the utility function will be concave to the origin, indicating that extremes are better than averages; the MRS will remain constant in absolute value as we move down theindifference curve.OThe MRS is 34; the utility function will be concave to the origin, indicating that extremes are better than averages; the MRS will rise in absolute value as we move down the indifference4Bcurve.O No answer

Answered: Image /qna-images/answer/c81d752f-c138-43f8-9f71-a5517e6c15f8.jpg

Which of the following statements is true about the utility function: U(A, B) = A³+ B4, where good A is measured on the horizontal axis? O The MRS is 44²; the utility function will be convex to the origin, indicating that averages are better than extremes; the MRS will fall in absolute value as we move down the indifference curve. 383 O The MRS is 34²; the utility function will be concave to the origin, indicating that extremes are better than averages; the MRS will rise in absolute value as we move down the indifference 483 curve. The MRS is 3A² + 4B3; the utility function will be convex to the origin, indicating that averages are better than extremes; the MRS will fall in absolute value as we move down the indifference curve. O The MRS is 3A + 4B; the utility function will be concave to the origin, indicating that extremes are better than averages; the MRS will remain constant in absolute value as we move down the indifference curve. O The MRS is 34; the utility function will be concave to the origin, indicating that extremes are better than averages; the MRS will rise in absolute value as we move down the indifference 48 curve. O No answer

Which of the following statements is true about the utility function: U(A, B) = A³+ B4, where good A is measured on the horizontal axis? O The MRS is 44²; the utility function will be convex to the origin, indicating that averages are better than extremes; the MRS will fall in absolute value as we move down the indifference curve. 383 O The MRS is 34²; the utility function will be concave to the origin, indicating that extremes are better than averages; the MRS will rise in absolute value as we move down the indifference 483 curve. The MRS is 3A² + 4B3; the utility function will be convex to the origin, indicating that averages are better than extremes; the MRS will fall in absolute value as we move down the indifference curve. O The MRS is 3A + 4B; the utility function will be concave to the origin, indicating that extremes are better than averages; the MRS will remain constant in absolute value as we move down the indifference curve. O The MRS is 34; the utility function will be concave to the origin, indicating that extremes are better than averages; the MRS will rise in absolute value as we move down the indifference 48 curve. O No answer

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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plz solve it within 30-40 mins I'll give you multiple upvote
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