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Consider the utility function: U(x,y)= -4(3x-12)² - (2y-10)² Determine the marginal utility for the two commodities

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics

Section: Chapter Questions

Problem 1WNG

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Question

Consider the utility function:

U(x,y)= -4(3x-12)² - (2y-10)²

Determine the marginal utility for the two commodities

Definition Definition Satisfaction derived from the consumption of an additional unit of any commodity.

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