Consider the utility function $u \left( x _ { 1 } , x _ { 2 } \right) = x _ { 1 } ^ { \alpha } x _ { 2 } ^ { \beta }$ .Which of the following are true statements about the indifference maps represented by this function.
a.
MRS=-1 along the 45 degree line if and only if
$\alpha = \beta$ .
b.
MRS=-1 along a ray steeper than the 45 degree line if and only if
$\alpha > \beta$ .
c.
MRS=-1 along a ray shallower than the 45 degree line if and only if
$\alpha < \beta$ .
d.
All of the above.
e.
None of the above.

Question

Consider the utility function $u \left( x _ { 1 } , x _ { 2 } \right) = x _ { 1 } ^ { \alpha } x _ { 2 } ^ { \beta }$ .Which of the following are true statements about the indifference maps represented by this function. 
a.
MRS=-1 along the 45 degree line if and only if
 $\alpha = \beta$ . 
b.
MRS=-1 along a ray steeper than the 45 degree line if and only if
 $\alpha > \beta$ . 
c.
MRS=-1 along a ray shallower than the 45 degree line if and only if
 $\alpha < \beta$ . 
d.
All of the above.
e.
None of the above.

Quizplus · Accepted Answer

The Answer of Consider the utility function $u \left( x _ { 1 } , x _ { 2 } \right) = x _ { 1 } ^ { \alpha } x _ { 2 } ^ { \beta }$ .Which of the following are true statements about the indifference maps represented by this function. 
a.
MRS=-1 along the 45 degree line if and only if
 $\alpha = \beta$ . 
b.
MRS=-1 along a ray steeper than the 45 degree line if and only if
 $\alpha > \beta$ . 
c.
MRS=-1 along a ray shallower than the 45 degree line if and only if
 $\alpha < \beta$ . 
d.
All of the above.
e.
None of the above.

Consider the Utility Function u(x1,x2)=x1αx2βu \left( x _ { 1 } , x _ { 2 } \right) = x _ { 1 } ^ { \alpha } x _ { 2 } ^ { \beta }u(x1​,x2​)=x1α​x2β​

Consider the Utility Function $u \left( x _ { 1 } , x _ { 2 } \right) = x _ { 1 } ^ { \alpha } x _ { 2 } ^ { \beta }$