Please solve all parts (d and e)Find the marginal rate of substitution of y for x [MRS(x,y)] for the following utility functions (e)Select one:O a.O b.O d.e.u(x, y) = ln(x) + 9ln(y)४९y-18X9४१७y9x (d)Select one:O b.OOa.Oنd.e.Not yet answered18u(x, y) = x³y⁹99x8xyy8x9xy19y

The marginal rate of substitution (MRS) refers to a measurement of the rate at which a consumer is…

Answered: Please solve all parts (d and e) Find…

Please solve all parts (d and e) Find the marginal rate of substitution of y for x [MRS(x,y)] for the following utility functions

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.16P

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Concept explainers

Form Utility

The term utility in general refers to the satisfaction earned from usage of a particular product or service. Utility always plays an important role because it influences various important elements like demand & thereby the price of the good or service as well. Though utility is not easy to measure, various types of economic models can be used indirectly. There can be various types of utilities like economic utility, marginal utility, cardinal utility, form utility.

Question

Please solve all parts (d and e)

Find the marginal rate of substitution of y for x [MRS(x,y)] for the following utility functions

(e)
Select one:
O a.
O b.
O d.
e.
u(x, y) = ln(x) + 9ln(y)
४९
y
-18
X
9
४१७
y
9x

(d)
Select one:
O b.
O
O
a.
O
ن
d.
e.
Not yet answered
1
8
u(x, y) = x³y⁹
9
9x
8x
y
y
8x
9xy
1
9y

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