1.Timothy has a utility function that depends on the number of musicals and the number of operas seen each month. His utility function is given by, where x is the number of musicals per month and y is the number of operas seen per month. Provide a careful reasoning for each of the following questions. (7 pts.)

a)Does Timothy believe that more is better for each good? (3 pts.)

b)Does Timothy have a diminishing marginal utility for each good? (2 pts.)

c)Does the absolute value of marginal rate of substitution of x for y diminish? (2 pts.)