(Answered) Both mary and anne love chocolate x and roses y suppose

Management Studies

Both Mary and Anne love chocolate (x) and roses (y). Suppose that both Mary's and Anne's preferences can be represented by U(x,y) = 2sqrt(x) + 2sqrt(y)

A) What is the equation of an indifference curve for Mary? For Anne?

B) What is the MRS of these functions ? Note, MUx = x^-1/2 and MUy= y^-1/2. What is the geometric equivalent of the MRS ? What is the interpretation of the MRS.

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