Question: (c) [5] If, instead, Michael's preferences were given by: U(L,C) = 5L + 100 What is his marginal utility of L? What is his marginal

(c) [5] If, instead, Michael's preferences were given by: U(L,C) = 5L + 100 What is his marginal utility of L? What is his marginal utility of C? What is the marginal rate of substitution? Label your answers M U L, M U0, and M RS no: respectively. (d) (2.5) If, instead, Michael's preferences were given by: U[L, C) = 10L + 200 + 30 What is his marginal utility of L? What is his marginal utility of C? What is the marginal rate of substitution? Label your answers M U L, M U0, and M RS no, respectively. (e) [5] If, instead, Michael's preferences were given by: U(L, C] = 2L + 00.5 What is his marginal utility of L? What is his marginal utility of C? What is the marginal rate of substitution? Label your answers M U L, M U0, and M RS Lg, respectively. (f) [5] Consider now that Michael has a bundle where L = 2 and C = 1. His preferences are given by: U(L,C) = mn{L, C} What is his marginal utility of L? What is his marginal utility of C? What is the marginal rate of substitution? Label your answers M U L, M U0, and M RS so; respectively

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