Microeconomics
Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Chapter 19.A, Problem 4QE
To determine

The shape of the indifference curve if the law of diminishing marginal utility did not hold.

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The marginal utility for the third unit of X is 60 utils, and the marginal utility for the fourth unit of X is 45 utils. If the law of diminishing marginal utility holds, what is the minimum total utility?
Consider the following utility function, utility = x·y. The equation for the indifference curve at utility level equal to 20 is?
given the utility function U=150X+40X2-X3, derive average and marginal utility functions, Find the value of X at which total utility is maximum, and the value of X at which average utility is maximum?
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