Question: Tom has the following utility function: U = X 1 + X 2 What kind of a utility function does this equation represent?, i.e. does

Tom has the following utility function: U = X₁ + X₂

What kind of a utility function does this equation represent?, i.e. does it represent perfect substitutes, perfect complements, imperfect substitutes or something else?

What is Tom's Marginal Rate of Substitution (MRS) between X₁ and X₂? Your answer should be a specific number.

Does Tom's MRS change or stay constant as he consumes more of X₂? Explain briefly

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