Question: please answer this question Exercise 4: Homework Consider the utility function: U(x, y) = x - y. a) Determine the marginal utility function for x
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Exercise 4: Homework Consider the utility function: U(x, y) = x - y. a) Determine the marginal utility function for x goods. b) Determine the marginal utility function for y goods. C) Does the consumer believe that more is better for x goods? d) Does the consumer believe that more is better for y goods? Is the marginal utility of x diminishing? Is the marginal utility of y diminishing
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