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ECON3200001.1251 Quiz 6: Marginal Utility and Uncertainty
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Consider the following quasi-linear utility function: U = ln(x) + 5y We can say: MUx [選擇] does not change decreases increases with y and [選擇] decreases does not change increases with x. MUy [選擇] increases decreases does not change with y and does not change with x.
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Step-by-Step Analysis
The question is asking about how the marginal utilities change when x or y changes, given the quasi-linear utility U = ln(x) + 5y.
First, compute the marginal utilities:
- MUx = ∂U/∂x = 1/x. This shows how utilities change as x varies while y is held constant.
- MUy = ∂U/∂y = ......Login to view full explanationLog in for full answers
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