U = U(C) = ; σ > 0
Calculate the marginal utility Uj(C).
2 Utility Functions (2 Points) Consider the utility function u(c) where c denotes consumption of some arbitrary good and ơ (the Greek letter "sigma") is known as the "curvature parameter" because its value governs how curved the utility function is and is treated as a constant. In the following, restrict your attention to the region c > 0 (because "negative consumption" is an ill-defined concept) a. (0.50 Points) Plot the utility function for σ 0, Does this utility function display...
Question 2 2 pts Consider the utility function u(x1, x2)= x x Calculate the marginal utility of good 2. 7xx? O 7xx? 7x x 8xx
Suppose that utility is given by the following function: U= 10* ln(c) How large is marginal utility when real consumption is c=5?
Select the function that represents the marginal utility of X for the utility function: U-X2Y4 Select one: a. 4X2y3 b. 0.5x2y4 c. 2XY4 d. 2X2y4 e. 4X-2y4
Suppose an individual had a utility function given by: U -X0,6y0.8 Calculate this individual's Marginal Rate of Substitution (MRSxy) when they have a bundle with 3 units of Good X and 4 units of Good Y (Round to the nearest decimal place if necessary.)
Suppose an individual had a utility function given by: U -X0,6y0.8 Calculate this individual's Marginal Rate of Substitution (MRSxy) when they have a bundle with 3 units of Good X and 4 units of Good Y (Round to the nearest decimal place if necessary.)
Find the Marginal Utility of X; the Marginal Utility of Y; the ratio MUx / MUy for each of the following: a. U(x,y) = 15x.2y.3 b. U(x,y)=.5xy c. U(x,y)=6x.4y.5 d. U(x,y)=3x.5y.8
Select the function that represents the marginal utility of X for the utility function: U-X0.5 Y0.25 Select one: a. 0.25X-0.5 y0.25 b. 0.5X-0.5 y0.25 c. 0.5x0.5 y0.25 d. 0.25X 0.5 v-0.25 e. 2X-0.5 y025
Suppose an individual had a utility function given by: U=X^4*Y^1. Calculate this individual's Marginal Rate of Substitution (MRSxy) when they have a bundle with 5 units of Good X and 0.25 units of Good Y. (Round to the nearest decimal place if necessary.)
Fill in the table below by calculating the marginal utility and marginal utility per dollar for the given data. Input your answers in the corresponding spaces that follow. Price = 17 Units Total Utility Marginal Utility (MU) Marginal Utility per dollar 0 0 1 283 2 449 3 499 Error in inputting table. required to answer marginal utility and marginal utility per dollar for each unit. (0-3)