Show mathematicallt whether the mardinal utility for x1 and, Ask an Expert

Economics

Given the following utility function: U= (2(X1) + 3(X2)^2)^3 (X1)

a) Find the marginal utility for (X1) and (X2)

b) show mathematicallt whether the mardinal utility for (X1) and (X2) is increasing or decreasing.

c) Find the Marginal rate of substitution for the indifference curve generated by the utility function.

d) Is there an amount of (X1) and (X2) that will maximize utility? Explan and show mathematically.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9443234

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