Arwen-i has income96 and faces prices px4 for good x and, Ask an Expert

Economics

Arwen-i has income=96 and faces prices Px=4 for Good X and apt=10 for good Y. Find Arwen's Marginal Rate of Substitution and her utility maximizing bundle for each of the following utility functions.

a) Arwen-1: U(X,Y)= X + 5Y

b) Arwen-2: U(X,Y)= X + 2Y

c) Arwen-3: U(X,Y) = min[2X,Y]

d) Arwen-4: U(X,Y) = X^(1/2) + Y

e) Arwen-5: U(X,Y) = XY

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91423024

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