Calculus 4.12 (0) Joe Bob has a utility function given by u(x1, x2) =
(b) Joe Bob?s straight cousin, Al, has a utility function v(x1, x2) = x2+x1.
Compute Al?s marginal rate of substitution. MRS(x1, x2) =_____
(c) Do u(x1, x2) and v(x1, x2) represent the same preferences? _____ .Can you show that Joe Bob?s utility function is a monotonic transformation of Al?s? ________
This question was answered on: Jul 11, 2017
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