If the utility function (U) between bananas (B) and jam (J) can be represented as U(B,J) =

Fantastic news! We've Found the answer you've been seeking!

Question:

If the utility function (U) between bananas (B) and jam (J) can be represented as U(B,J) = 3ln(B)+4ln(J), what is the marginal rate of substitution (MRSBJ) between bananas and jam?

Related Book For answer-question

Intermediate Microeconomics

ISBN: 978-0393123968

9th edition

Authors: Hal R. Varian

See More Books

Posted Date: Mar 01, 2024 07:00 AM

See More Questions

Ambrose, whom you met in the last chapter, continues to thrive on nuts and berries. You saw two of his indifference curves. One indifference curve had the equation x2 = 20 4 x1, and another...
PLEASE GIVE CORRECT ANSWERS Prove that the number of comparators in any sorting network is (n log n). [4 marks] (ii) What does Part (d)(i) imply in terms of the depth of any sorting network? [1 mark]...
Suppose treacle is an array of 10 floats. Declare a pointer that points to the first element of treacle and use the pointer to display the first and last elements of the array.
In the following table are the data from Exercise 16.53 on battery lives, in hours, for samples of laptops made by four different computer companies. The four brands are Apple, Dell, Samsung, and...
Kahnert Corporation's adjusted trial balance contained the following asset accounts at December 31, 2014: Cash ..................... $3,000; Treasury Bills (with original maturity of three months) ....
Petitioner Curtis Flowers has been tried six separate times for the murder of four employees of a Mississippi furniture store. Flowers is black; three of the four victims were white. At the first two...
Blythe Industries Inc. expects to maintain the same inventories at the end of 2012 as at the beginning of the year. The total of all production costs for the year is therefore as, summed to be equal...
Select multiple Hadoop, NoSQL, and NewSQL products and conduct a detailed comparison of the similarities and differences between the tools that you select. For NoSQL products, include key-value pair...
. With the information generated from the following table derivate from the Bureau of Economic Analysis (https://apps.bea.gov/iTable/index_nipa.cfm), please do the regression analysis, with the...
A sample of an ideal gas is taken through the cyclic process abca (figure 26-W1). It absorbs 50 J of heat during the part ab, no heat during bc and rejects 70 J of heat during ca. 40 J of work is...
What is the multiplier if the marginal propensity to consume is 0.5? What is it if MPC is 0.8?
Your roommate is considering purchasing cryptocurrency, as they believe it can be used in place of money. Can cryptocurrency function as money?
For each of the following products, explain whether demand is likely to be elastic or inelastic. a. Tap water b. Orange juice c. Big Macs d. Insulin e. Samsung LED televisions f. Automobile tires.
What are the important types of financial intermediaries in the U.S. economy? What are the primary assets of these intermediaries, and how do they facilitate investment spending and saving?
Discuss the advantages and limitations of using concentration indices to compare accounting choices in different countries.
Question 2 Show how you can synthesize the following compounds using the indicated starting materials and any other necessary substances or reagents. A. NH3 (starting from nitrobenzene) . H;C- COOH...
Based on the scenario described below, generate all possible association rules with values for confidence, support (for dependent), and lift. Submit your solutions in a Word document (name it...
The demand function for yo-yos is D (p,M) = 4 2p + 1 / 100M, where p is the price of yo-yos and M is income. If M is 100 and p is 1, (a) What is the income elasticity of demand for yo-yos? _____ (b)...
Bonnie and Clyde are business partners. Whenever they work, they have to work together. Their only source of income is profit from their partnership. Their total profit per year is 50H, where H is...
Old MacDonald produces hay. He has a single employee, Jack. If Jack works for x hours he can produce x bales of hay. Each bale of hay sells for $1. The cost to Jack of working x hours is c(x) =...
The SDLC is just one model for systems development. Find at least one more and describe the differences.
Draw DFDs for each of these scenarios: (a) A customer goes into a bookshop and asks for this book. The member of staff looks for the book in the online stock catalogue and reports that the book is...
Draw an entity model to model this university scenario: A university department employs lecturers and clerical staff. It offers a three-year degree. A student has to take 12 modules during the...

If the utility function (U) between bananas (B) and jam (J) can be represented as U(B,J) =

Question:

Expert Answer:

The marginal rate of substitution MRS represents the rate at which a consumer is willing to give up ... View the full answer

Intermediate Microeconomics

Students also viewed these economics questions