9) a) For u (x, y) = xy, what is the MRS? (Include the marginal utilities...

9)

a) For u (x, y) = xy, what is the MRS? (Include the marginal utilities for both goods x and y in your answer; show as an intermediate step to your answer.)

b) Show some indifference curves for the utility function given in a) in a graph. Why do indifference curves representing regular preferences not intersect each other?

Expert Solution

Rahul Sunny answered 7 months ago

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