If utility is given by
,then the person's MRS at the point x = 5,y = 2 is given by:
A) 0.4.
B) 1.0.
C) 2.5.
D) 5.0.
Correct Answer:
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Q2: If utility is given by
Q4: Indifference curves:
A)may sometimes intersect.
B)are contour lines only
Q5: concern the CES utility function:
Q6: If an individual's utility function is quasi-concave,his
Q7: Which of the following utility functions best
Q8: Which of these utility functions represent the
Q9: concern the CES utility function:
Q10: For an individual who consumes only two
Q11: refer to an individual whose utility function
Q18: If bundles of goods A and B
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