which answer is correct among the provided onesthe answer i got is provided on the image which is incorrect Find the marginal rate of substitution given the following utility functions for xand y:U(x) = 2xyU(y) = 3x1/3,2/3O x1/3 / yA/3O 213 x213y1/3y2/3 / x1/3'yA/3 /x1/3

Utility refers to the satisfaction derived from a consumption of the good. The aim of the consumer…

Answered: Find the marginal rate of substitution…

Find the marginal rate of substitution given the following utility functions for X and y: U(x) = 2xy U(y) = 3x1/3,2/3 O x1/3 / yA/3 2/3 x2/3y1/3 O y2/3 / x1/3 O yA13 / x1/3

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

which answer is correct among the provided ones

the answer i got is provided on the image which is incorrect

Find the marginal rate of substitution given the following utility functions for x
and y:
U(x) = 2xy
U(y) = 3x1/3,2/3
O x1/3 / yA/3
O 213 x213y1/3
y2/3 / x1/3
'yA/3 /x1/3

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