3. Consider the utility function u(x, y) = - (v41) (a) Find the equation for the marginal utility for x and one for marginal utility of y. (b) Find an equation of the form y = f(x) that describes the indifference curve for utility equal to -1/2. (c) Argue that the utility values all lie inſthe interval[-1,0] (d) Does the utility function v(x, y) = x + 2y represent the same preferences as и(х, у)? (e) Does the utility function w(x, y) = x + y represent the same preferences as

3. Consider the utility function u(x, y) = - (v41) (a) Find the equation for the marginal utility for x and one for marginal utility of y. (b) Find an equation of the form y = f(x) that describes the indifference curve for utility equal to -1/2. (c) Argue that the utility values all lie inſthe interval[-1,0] (d) Does the utility function v(x, y) = x + 2y represent the same preferences as и(х, у)? (e) Does the utility function w(x, y) = x + y represent the same preferences as

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter3: Preferences And Utility

Section: Chapter Questions

Problem 3.13P

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