Question: For the utility function U: U(x, y) = [x2/3 + y2/311.5: a) Obtain the marginal utility functions, MUx and MUY. [6 marks] b) Obtain

For the utility function U: U(x, y) = [x2/3 + y2/311.5: a) Obtain the marginal utility functions, MUx and MUY. [6 marks] b) Obtain the marginal rate of substitution and confirm that indifference curves are downward sloping. [4 marks] c) Obtain the equation of the indifference curve U = 8. Confirm that the axes are tangent to the indifference curve at the point where it meets it. [9 marks]

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