Question: 1. Rick Sanchez comcomes two goode Chicken MeNuggets,' , and blended scotch, S. His preferences over these goods are given by the mility function: [a)

1. Rick Sanchez comcomes two goode Chicken MeNuggets,' , and blended

1. Rick Sanchez comcomes two goode Chicken MeNuggets,' , and blended scotch, S. His preferences over these goods are given by the mility function: [a) Find an expression for Rick's marginal rate of substitution between the two goods. Do Rick's preferences exhibit a diminishing marginal rate of substitution? Explain, (5 marks) (b) Find expressions for Rick's demand for each good. Also find Rick's indirect utility function. (10

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