Question: Part II: Utility Functions and MRS 6. Frank's utility function is U(q1,q2) = 3111 + 6q2. (i) Compute the marginal utilities and . (ii) Compute

Part II: Utility Functions and MRS 6. Frank's utility function is

Part II: Utility Functions and MRS 6. Frank's utility function is U(q1,q2) = 3111 + 6q2. (i) Compute the marginal utilities and . (ii) Compute the marginal rate of substitution (MRS). (iii) On a graph, draw indifference curves for U=60 and U=120, labeling the horizontal and vertical intercept coordinates. 7. Dee's utility function is U(q1, (12) = min {2:11 , qg}. On a graph, draw indifference curves for U=10 and U=20, labeling the intercept 8. Charlie has the utility function U(q1, (12) = qfqg. (i) Compute the marginal utilities and . (ii) Compute the marginal rate of substitution (MRS). Be sure to simplify the equation where possible. 1 2 9. Dennis has the utility function U (ql , (12) = (113 q; . (i) Compute the marginal utilities and . (ii) Compute the marginal rate of substitution (MRS). Be sure to simplify the equation where possible

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