For each of the following utility functions: Calculate MUx, MUy, MRSx,y; determine whether or not the property of “more is better” is satisfied for both

goods; determine whether or not the marginal utility of x diminishes,
remains constant, or increases as the consumer buys more x; determine whether or not the marginal rate of substitution diminishes, remains constant, or increases as the consumer substitutes x for y along an indifference curve; and sketch the graph of a typical indifference curve.

(a) U(x,y)=(xy)^1/2

I really need help with the indifference curve part of the question!

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To sketch the graph of a typical indifference curve for the utility function Uxyxy12 we can follow t... View the full answer