Mark's utility function over dance show tickets (D) and baseball game tickets (B) can be expressed as U(D,B) = D + 5B.
a. What is his marginal utility of dance tickets?
b. What is his marginal utility of baseball tickets?
c. What is his marginal rate of substitution MRSDB?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q52: Joaquim has new babies at home, so
Q61: For the utility function U(X,Y) = 2X
Q103: Suppose that a consumer's utility function can
Q105: Alice's utility function over toys (T) and
Q106: Suppose that Eugene cares only about action
Q109: Suppose that Bruce cares only about barbecued
Q111: Suppose that Arthur cares only about video
Q112: For the utility function U(X,Y) = X0.75Y0.25,
Q113: Alice's utility function over toys (T) and
Q127: Suppose that Jana cares only about apples
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents