Home » 1. You are given the utility function: U (x; y) = 10x + p y a. If x = 10; what must y equal to be on the U = 200 indierence curve? b. What is the

# 1. You are given the utility function: U (x; y) = 10x + p y a. If x = 10; what must y equal to be on the U = 200 indierence curve? b. What is the

1.    You are given the utility function:

U (x; y) = 10x + p y

a. If x = 10; what must y equal to be on the U = 200 indi§erence curve?

b. What is the MRSx;y at the point found in (a)?

c. Consider the logarithmic transformation of the utility function:

g (x; y) = ln [U (x; y)]

what is the general expression of MRSx;y of this transformed utility function, g (x; y)?

2. A consumer with the utility function u (x; y) = 3x 0:9py faces the prices Px = 2 and Py = 3: What is his optimal consumption basket if his income is I = 84?

3. The price elasticity of demand for x is 1:9: If the price of x increases by 10% what happens to:

a. the demand for x?

b. the total revenues from x?

4. What is MRSx;y from the following utility functions? Is it diminishing with x?

a. U (x; y) = p x + y

b. U (x; y) = ln x + ln (xy)

c. U (x; y) = y 2x + y

## Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
\$26
The price is based on these factors:
Number of pages
Urgency
Basic features
• Free title page and bibliography
• Unlimited revisions
• Plagiarism-free guarantee
• Money-back guarantee
On-demand options
• Writer’s samples
• Part-by-part delivery
• Overnight delivery
• Copies of used sources
Paper format
• 275 words per page
• 12 pt Arial/Times New Roman
• Double line spacing
• Any citation style (APA, MLA, Chicago/Turabian, Harvard)

# Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

### Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

### Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

### Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.