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Category > Economics Posted 12 Jul 2017 My Price 6.00

Amber thrives on nuts and berries

Amber thrives on nuts and berries. Her preferences are represented by the utility function , where is her consumption of nuts and is her consumption of berries.

 

a) Amber consumes 9 units of nuts and 10 units of berries. What is her utility?

 

b) Now, her consumption of nuts is reduced to 4 units, but she is given enough berries so that she has the same utility as before. After this change, how many units of berries does Amber consume?

 

c) What is Amber’s marginal rate of substitution, MRS, when she is consuming the consumption bundle (9, 10)? (Give a numerical answer). 

 

 

 

 

 

 

(four questions in files )

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SuperTutor
(15)
Status NEW Posted 12 Jul 2017 03:07 AM My Price 6.00

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file 1499830591-Solutions file.docx preview (51 words )
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