Two goods have independent marginal utilities if Show that if we assume diminishing marginal utility for each

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Two goods have independent marginal utilities if

Show that if we assume diminishing marginal utility for each good. then any utility function with independent marginal utilities will have a diminishing MRS. Provide an example to show that the converse of this statement is not true.

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College Algebra Graphs and Models

ISBN: 978-0321845405

5th edition

Authors: Marvin L. Bittinger, Judith A. Beecher, David J. Ellenbogen, Judith A. Penna

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Posted Date: Jul 11, 2019 09:55 AM

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Two goods have independent marginal utilities if Show that if we assume diminishing marginal utility for each

Question:

02U 0 U ду????х ахду = 0. 02U 0 U ду????х ахду = 0.

Expert Answer:

Since the goods have independent marginal utilities this means that Since ... View the full answer

College Algebra Graphs and Models

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