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Question 8 (Utility). Suppose a consumer's utility function is given by U(X1, X2)=x]*x2 a) Draw an indifference curve wi
Posted: Sat Feb 19, 2022 2:43 pm
by answerhappygod
- Question 8 Utility Suppose A Consumer S Utility Function Is Given By U X1 X2 X X2 A Draw An Indifference Curve Wi 1 (64.57 KiB) Viewed 58 times
Question 8 (Utility). Suppose a consumer's utility function is given by U(X1, X2)=x]*x2 a) Draw an indifference curve with a value of 10 and an indifference curve with a value of 16. Label two points on each indifference curve as well as the axes. b) What is the marginal utility with respect to xı? What is the marginal utility with respect to x? What is the marginal utility of xi and x2 at the point (10,5)?