Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Microeconomics Expert

How to find a MRS for three goods.

Consider the Cobb-Douglas utility function U = U(X,Y,Z) for the case of three goods X,Y and Z defined by
U = (X,Y,Z)=(X^1/3).(Y^1/3).(Z^1/3)

What are the marginal utilities and marginal rates of substitution for this utility function?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M948295

Have any Question? 


Related Questions in Microeconomics

Assignmentafter read two articles then answer the questions

Assignment After read two articles then answer the questions below Cellini: - How does Cellini criticize Bandinelli's sculpture Hercules and Cacus (1534)? - What technical difficulties does Cellini encounter in making hi ...

Discussion questioncriminal prosecutions for violations of

Discussion Question Criminal prosecutions for violations of OSHA regulations can only result in a misdemeanor conviction with a maximum sentence of 6 months in prison. An employer can only be criminally prosecuted if a w ...

Answer all the questionsq1 assume that the home h and

Answer all the questions: Q1. Assume that the home (H) and foreign (F) countries produce two goods apples (A) and bananas (B) by using labor. The unit labor requirements in A and B are given in two countries as follows: ...

Assignmentbenefiting administration is a strong part of the

Assignment Benefiting administration is a strong part of the employee value propositions. Compare three organizations and how these organizations have demonstrated best practices in offering employee benefits. Additional ...

Question -for production of dodecylbenzene sulfonates main

Question - For production of Dodecylbenzene sulfonates (main raw material for production of detergent), the detergent plant needs 2000 metric ton per day of hydrocarbons (mixture is acceptable) with boiling point between ...

Assignment elasticity of demandin this assignment you will

Assignment: Elasticity of Demand In this Assignment, you will focus on marginal utility, Price Elasticity of Demand, and understanding the difference between Price Elasticity of Demand and Income Elasticity of Demand. We ...

Assignment 1 markets failures and exceptionsfor each of the

Assignment 1: Markets Failures and Exceptions For each of the following situations, the market system has failed and/or just will not allocate resources efficiently: Situation 1: Firm A produces cement sifters. The proce ...

Demonstrate how metrics such as valuation economic profit

Demonstrate how metrics such as valuation, economic profit, and related terms are measured and evaluated. Explain the significance and implications of various economic theories pertaining to profit, consumer choice, dema ...

Assignmentwe have discussed interviews and the type of

Assignment We have discussed interviews and the type of designs related to research questions that require a qualitative method. The interview process includes open-ended unstructured or structured questions. As we look ...

What is the difference between a cost and an expense when

What is the difference between a cost and an expense? When does a cost become an expense? Do all costs become expenses? Explain.

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate