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For each of the following utility functions, compute the marginal utility of good X (MUx) and the marginal utility of good Y (MUy). a. U(X,Y) = 3X1/2 + 5Y1/2 %3D b. U(X,Y) = X0.5y0.4

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

For each of the following utility functions, compute the marginal utility of good X (MUx) and
the marginal utility of good Y (MUY).
a. U(X,Y) = 3X1/2 + 5Y1/2
b. U(X,Y) = X0.5y0.4

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