Question: please can you provide some explanations a a u- 4. Consider the function U (:r, y) = 2: + 1n 3;. This is a function

please can you provide some explanations

please can you provide some explanations a a u- 4. Consider the

a a u- 4. Consider the function U (:r, y) = 2: + 1n 3;. This is a function that is used relatively frequently in economic modeling as it has some useful properties. (a) Find the MRS of the function. (13} Find the equation for an indi-'erence curve for this function. (c) Compare the marginal utility of x and y. How do you interpret these functions? How might consumers choose between K and y as they try to increase their utility by. for example, con- suming more when their income increases? (d) Considering how the utility changes as the quantities of the two goods increase, describe some situations where this function might be useful

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