Question: An agent has a utility function of u(x; y) = xy + x: and second agent has utility function u(x; y) = min(3x; 2y) (a)

An agent has a utility function of u(x; y) = xy + x: and second agent has utility function u(x; y) = min(3x; 2y)

(a) Find the demand functions of each agents utility function seperately, if I > py, I < py and I=py

(b) what is the MRS for second agent with u(x; y) = min(3x; 2y) at (x,y)=(2.5 , 4)

wrtite step by step details and what each means

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