Please explain in slow steps how MRS can be derived using definition of MRS from the ratio of partial derivatives. No specific information is needed about class formulas.
MRSyx = Marginal utility of x/ marginal utility of y
Marginal utility of x = du/dx
Marginal utility of y = du/dy
(a) MUx = du/dx = 1/2 (y/x)1/2
MUy = du/dy = 1/2 (x/y)1/2
MRS = y/x
MRS at (2,4) = 4/2 = 2
(b) MUx = 1/2 1/ x1/2
MUy = 1/2 1/ y1/2
MRS = (y/x )1/2 = 21/2
c) MUx = 1/ x3/4
MUy = 1/ y3/4
MRS = (y/x)3/4 = (2)3/4 = 2× 21/2
d) MUx = 1/ x2
MUy = 1/ y2
MRS = (y/x)2 = 4
Please explain in slow steps how MRS can be derived using definition of MRS from the...
Please explain in slow steps how MRS can be derived directly from the definition. I am not too strong on this topic and I am confused what to do. Ignore class formulas thank you! 6) For each of the following utility functions derive directly from the definition not using the formula(s) from class or the tert - the MRS (marginal rate of substitution) of y for r at (2,4) (a) ua(z, y)= 1/2y1/2 (b) uo(x, y) 2y/2 (b) u(r, y)4y4...
5) For each of the following utility functions derive directly from the definition not using the formula(s) from class or the tert - the MRS (marginal rate of substitution) of y for x at the point (2,4) (a) ua(x,y)=xy (c) ue(z,y)=z"y (d) ua(x, y)-
4) For each of the following utility functions derive directly from the definition not using the formula(s) from class or the text - the MRS (marginal rate of substitution) of y for x at the points (1, 1) and (2,4 (a) ua(x, y)-y (b) us(x, y) x + 2y (c) uc (z, y) = 3x + y
Please solve it with Definition as the change of x goes to 0 or the change of y goes to 0. Thank you! 6) For each of the following utility functions derive directly from the definition not using the formula(s) from class or the tert - the MRS (marginal rate of substitution) of y for r at (2,4) (a) ua(r, y) -z2y/2 (b) ub(x y)-21/2 +y/2 (b) ue(a, y)-14+y/4 (d) ud(x, y)--1/x - 1/y
) For each o the following utility functions derive direclly from the definition not using the formula(s) from class or the text- the MRS (marginal rate of substitution) of y for at the points (1, 1) and (2,4) a) a(x, y)+y (c) u(r,y)3ry
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