Question: Given the utility function, U = X, X2' , and budget constraint, 4x1 + 2x2 = 300, a. Derive the expressions for the marginal utilities

Given the utility function, U = X, X2' , and budget constraint, 4x1 + 2x2 = 300, a. Derive the expressions for the marginal utilities of both goods, MU, and MU2. (3 points) b. Derive the expression for marginal rate of substitution, MRS. (3 points) c. Solve for the optimal bundle, (x1, x2). (6 points)

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