Question: please help me with this thanks so much (15 points) For the utility function u(x,y) = may? (a) (5 points) For a = 1/2, graph
please help me with this thanks
so much

(15 points) For the utility function u(x,y) = may\"? (a) (5 points) For a = 1/2, graph the corresponding indifference curve map and determine if the upper contour set of an arbitrary indifference curve is convex. (b) (5 points) For any 04 6 (0,1), nd the Marginal Rate of Substitution (MRS). What happens to the value of MRS when m > 00. (C) (5 points) What's the relation between a and the slope of the indifference curves of u(:r,y)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
