Luke's choice behavior can be represented by the utility function u(x1,x2)=x1+x2. The prices of x1 and x2 are denoted as p1 and

Question

3 years ago

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Luke's choice behavior can be represented by the utility function u(x1,x2)=x1+x2. The prices of x1 and x2 are denoted as p1 and

p2, and his income is m.
Draw at least three indifference curves and find its slope (i.e. MRS). Is the MRS changing depending on the points of (x1,x2) at which it is evaluated, or constant?

Mathematics

1 answer:

Lunna [17] · Answer 1 · 2022-03-14T09:04:07+03:00

Lunna [17]3 years ago

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Answer:

Step-by-step explanation:

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