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Business, 28.06.2019 04:40 avaverretkj

For each of the following utility functions, calculate (or figure out) the mrs and sketch outan indifference curve for u=4, plotting at least 2 points on each curve, and explain whether thepreferences violate the diminishing mrs or convexity of indifference curves. also make clear if theindifference curve hits the x and/or y axis. a)u(x, y) = ln x + 3ln yb) u (x ,y) =1/2 x+1/3y c) u(x, y) = min(2x, y)d) u(x, y) =sqrt( y) + x

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For each of the following utility functions, calculate (or figure out) the mrs and sketch outan indi...
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