### Problem StatementWhich of the following utility functions represents preferences over consumption bundles $(X, Y)$ that violate the assumption of diminishing MRS?### Utility Functions- **(a)** $ U(X, Y) = 3 \ln(X) + 5 \ln(Y) $ - **(b)** $ U(X, Y) = X^{\frac{1}{2}} + Y^{\frac{1}{2}} $- **(c)** $ U(X, Y) = XY $- **(d)** $ U(X, Y) = X^2 + Y^2 $- **(e)** $ U(X, Y) = X^{\frac{1}{4}} Y^{\frac{3}{4}} $

Marginal utility is extra amount of total utility in the market economy. Diminishing marginal rate…

Answered: Which of the following utility…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which of the following utility functions represents preferences over consumption bundles (X, Y) that violate the assumption of diminishing MRS? (a) U(X, Y) = 3 ln(X) + 5 ln(Y) (b) U(X,Y) = X² +Y² (c) U(X,Y) = XY (d) U(X,Y) = X² + y² (e) U(X,Y) = X¹y³