1. Find the marginal utilities (MUx and MUy) and the marginal rate of substitution between x and y, MRSxy of the utility function u(x, y) = x + 3y - 2 2. Tom always begins his day with a strawberry milkshake. He makes it by mixing milk (x) with five strawberries (y). The secret of a good milkshake lies in the optimal proportion of milk and fruit: one glass always comes with five strawberries. Which utility function represents this preference? Write and draw it. 3. Ahmad buys two commodities X and Y, with the utility function U(S, C) = 4 In(X) + 6 In (Y). a) Which preference represents this function? And what does it imply (mean)? b) Determine Ahmad's optimal consumption bundle that maximizes his utility given his budget constraint PxX + PyY=M. 4. True of False with justification and graphical representation: Mona's utility function us U(X,Y)= min {X, 2Y). She maximizes her utility subject to her budget constraint. The price of x is the same as the price of y. if the price of x rises, citreous paribus, then her consumption of y will certainly increase.