Question: 7. Kelly's utility function is given by U=5X+2Y, where MUX=5 and MUY=2. a. What is MRSXY ? b. What is MRSXY when X=1 and Y=5

7. Kelly's utility function is given by U=5X+2Y, where MUX=5 and

7. Kelly's utility function is given by U=5X+2Y, where MUX=5 and MUY=2. a. What is MRSXY ? b. What is MRSXY when X=1 and Y=5 ? When X=2 and Y=2.5 ? c. Draw a few sample indifference curves. 8. Andrea loves to eat burritos with hot sauce. In fact, she cannot enjoy a burrito (B) unless it has three servings of hot sauce (H). She gets no additional enjoyment from more than three servings per burrito. Thus, her utility function is U=min{B,31H}. Graph Andrea's indifference curves for U=1 and U=2

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