题目
题目

ECON3200001.1251 Midterm Exam I

多重下拉选择题

Kelly’s utility function is given by U= 5X + 2Y, where MUX = 5 and MUY = 2. Given this utility function, we can say that: The MRSXY  is:  2.5 The MRSXY  when X= 1 and Y = 5 is: [选择] 2.5 2 4.5 5 The MRSXY  when X = 2 and Y = 2.5 is: [选择] 2.5 5 2 3

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思路分析
To analyze this question, first restate the setup: Kelly’s utility is U = 5X + 2Y, which implies MUx = 5 and MUy = 2. Option 1 asks for the MRSXY in general. The marginal rate of substitution MRSXY is defined as MUx / MUy for a linear (or any differentiable) utility function when preferences are smooth. Here MUx/MUy = 5/2 = 2.5, so th......Login to view full explanation

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