Suppose the function for the utility from good c is denoted as U(c)=2c2. Which of the following expressions indicates the marginal utility of c? 1/c/2 1/square root of c All of the above are correct.

Q: Consider the following utility function: U=100X^0.75 Y^0.10. A consumer faces prices of Px = $5 and…

A: Given, U=100x0.85y0.10

Q: Suppose a consumer’s preferences over two goods x1 and x2 are given by u = root(x_1 x_2). Her…

A: Answer: Given, Utility function: u=x1x2 Price of good 1 = p1 Price of good 2 = p2 Income = M The…

Q: If u(x, y) is a utility function, then v(u) = −u is a function that qualifies monotonic…

A: Utility: It refers to the level of satisfaction which a consumer gets from the consumption of goods…

Q: If u(x. y) is a utility function, then v(u) = u is a function that fulfills the monotonic…

A: Utility is an essential concept in economics which means the capability to satisfy various wants and…

Q: Question 1 Calculate the marginal rate of substitution (MRS12) for the following utility function:…

A: Answer: Given, Utility function:Uq1,q2=74q1+0.6q22 To find the MRS let us find the marginal…

Q: For the utility function above, if the price of the good is $4, what is the marginal Utility per…

A: Marginal utility is the incremental/additional gain in total utility when one additional unit is…

Q: Suppose that the following a quasi-linear utility function is given U(X,Y) = U(X,)=-x-²-y-,Find…

A: We are going to solve above question using Marginal Rate of Substitution formula.

Q: When utility function  U(q1, q2)=min{ 25.6 q1,  12.5 q2} and  q1= 99 and q2= 198 are given, find…

A: The Utility function can be represented by   U(q1, q2)=min{ 25.6 q1,  12.5 q2} In general, if…

Q: Find Indirect utility function of the following function U= max (X, Y) subject to the budget…

A: Maximize U = Max(X,Y) Subject to Px*X + Py*Y ≤M This is the problem with cornor solution, here at…

Q: Suppose Pizza (P) and Hamburgers (H) are perfect substitutes to Kate. Two slices of Pizza always…

A: Given  Pizza (P) and Hamburgers (H) are perfect substitute  and utility from 2 slices of Pizza =…

Q: (1)A utility maximizing consumer purchases two commodities. The utility function is U= Q1 Q2 + 3Q1 +…

A:

Q: Consider the problem of a consumer who must choose between two types of goods, good 1 (x₁) and good…

A: Utility function: u(x1, x2) = x1 + x2 Marginal Rate of substitution = dudx1dudx2= 12x11 Price of…

Q: If the marginal utility function of an individual takes the form U = U (x1, x2) = (x1 + 2)2 (x2 +…

A: Given, the utility function: U=U(X1, X2)=(X1+2)2(X2+3)3 i) Marginal Utilities: MUX1…

Q: Assume a consumer with the utility function U(X,Y)=X²Y² and the typical budget constraint M= PxX+…

A: Given Consumer's utility function: U(X,Y)=X²Y² Consumer's budget line: M= PxX+ PyY

Q: For the utility function U(X,Y)= 6X0.50.5, the marginal rate of substitution MRSxy is: O Y/X. O X/Y.…

A: Given:- Utility function, U(X,Y)=6X0.5Y0.5 To calculate:- MRSxy=?

Q: . Construct an indirect utility function that corresponds to the direct function U = a In q1 + q2.…

A: We have  Utility function: U=αlnq1+q2          .... (1) First, we will find the Marshallian demand…

Q: Consider the utility function u(x1, x2) = x10.5x20.5. Find the Marginal Utilities with respect to…

A: Marginal utility means utility gained from consumption of one more unit of a good.

Q: Consider the utility function U(x,y)=3x +6y. An agent with a budget constraint of 15x + 5y = 30 will…

A: Budget line: A budget line is a line that expresses all bundles which a consumer can purchase with…

Q: A utility maximizing consumer purchases two commodities, Q1 & Q2. The consumer’s utility function is…

A: The Lagrange multiplier is a method of mathematical optimization that is used to find the local…

Q: Consider the utility function u(x, y) = x1/2y1/2. How do the marginal utilities change as x…

A: Ans. Utility function u(x, y) = x1/2y1/2Take the partial derivative of the utility function w.r.t.…

Q: The utility function of a consumer regarding two goods x and y is given by U(x,y) = x^(7.9)y^(9).…

A: U(x,y) = x7.9y9  Price of x (Px) = 19 Price of y (Py) = 80 Total Income (M) = 10800

Q: A consumer has utility function U(q1, q2) min{4q1, q2}. Find the consumer's (Marshallian) %3D demand…

A: Given  Utility function  U(q1,q2)=min{4q1,q2}       ... (1) Consumer income =y Price of good 1 =p1…

Q: Bridget's preferences for apples( X) and bananas(Y) can be represented by the utility function…

A:

Q: Assume the marginal utilities for the first 3 units of a good consumed are 200, 150, and 100,…

A: In Economics, Utility refers to the total satisfaction received from consuming a goods or service.

Q: Find the quantities which maximize utility, if you have the utilit functions is (n=Q1Q2+Q1+2Q2)…

A: Utility is maximised at a point where slope of an indifference curve is equal to the slope of a…

Q: Consider the following utility function: u(x1,x2) = x1 + x2. (A): i) Restate the consumer problem.…

A: * Hi there , as there are multiple questions posted . Following our guidelines we can only solve the…

Q: or the utility function (x^3)(z^2)Provide a positive linear transformation of the utility function,…

A: We are going to use log method to answer this question.

Q: Q1. Bob has a utility function defined over goods 1 and 2: u(x1; x2) = min{6*x1 + x2, x1 + 2*x2}…

A: u(x1; x2) = min{6*x1 + x2, x1 + 2*x2}

Q: A positive monotonic transformation of a utility function preserves   a. diminishing marginal…

A: A monotonic transformation of a utility function is a transformation in which. the ranking of the…

Q: An individual utility function is given by U(x,y) = x·y. This individual demand (optimal purchase)…

A: Given  Individual utility function: U(x,y) = xy  ......... (1)  Let px and py be the price of good x…

Q: if the utility function is given by u=x^2y^2 what is marginal utility?

A: Marginal utility is the extra utility received from consuming one additional unit of the good,…

Q: Bridget's preferences for apples( X) and bananas(Y) can be represented by the utility function…

A: Utility refers to the satisfaction obtained by the consumers from a good or service. While ,…

Q: Find marginal utility MU for a consumer consuming x amount of a given commodity, where his total…

A: Utilty is defined as the satisfaction which the consumer gets by consuming the homogeneous units of…

Q: Suppose a consumer's utility function is: u(x1,x2) x1 + In (x2). The price of x2 is 2 and the ngel…

A: The curve that shows the consumption pattern of a good by a consumer as his/her income changes is…

Q: Suppose that the preferences of the consumer are represented by the following functions of utility:…

A:

Q: Suppose that a typical consumer’s utility function is characterized by the following relation…

A: According to question resource available to the consumer is 160 birr . Taking birr as the currency…

Q: Assume that a person’s utility depends on two products, x and y. The utility function is given by…

A: Marginal utility of x and y can be calculated from the above utility function just by differentiated…

Q: If the utility function (U) between food (F) and clothing (C) can be represented as U =2F + 9C, the…

A: The utility is the amount of satisfaction received by the consumers from the consumption of goods…

Q: Consider the utility function U(x,y)=5x +2y. An agent with a budget constraint of 10x + 5y = 20 will…

A: Here, it is given thatUtility function, U(x, y) = 5x + 2y  where x and y depicts that they are…

Q: U = U ( x 1, x2)  = (x1 + 2) 2 (x2 + 3) 3

A: The Marginal utility is a satisfaction which consumer derive by consuming one more unit of…

Q: Suppose that the following utility function is given U(X,Y) X2Y. Which of the following is correct?

A: Option B is correct X is a good and why is bad and indifference curve is negatively sloped.

Q: Consider the following utility function: U= 100x0.50,0.50 A consumer faces prices of P, = $2 and P,…

A:

Q: Which of the following is not a required characteristic for a function U(.) to be considered a valid…

A: Utility function: A way of assigning a number toevery possible consumption bundle such that…

Q: Consider the following utility function: U= 100x0.50y0.50 A consumer faces prices of P, = $2 and P,…

A: The provided utility function is: U=100X0.50Y0.50

Q: find i

A: An indifference curve is a graph which shows combination of two goods which give the consumer equal…

Q: Consider the following utility function: U= 4X+Y. A consumer faces prices of P,= $2 and P, =1. %3D…

A: Answer: Given, Utility function: U=4X+Y The formula of the marginal rate of substitution (MRS) is…

Q: Consider the following utility function: U= 100x 50,0.50 %3D A consumer faces prices of P, = $2 and…

A: U=100X^0.5Y^0.5 Px=$2 Py=$1 MRS=1.83 MRS is the ratio of marginal utilities of the two goods In a…

Q: Suppose the function for the utility from good c is denoted as U(c)=2c1/2 .  Which of the following…

A: Given  Utility function:  U(c) = 2c1/2.    ..... (1) Where have to find marginal utility from good c