If the ulitity function is: U=121x1 + 120x2 How many units of x1 is the consumer willing to give up to get one more unit of x2? (hint: Remember how to obtain the opportunity cost of x2 using MRS. ENTER THIS NUMBER AS POSITIVE!!! NO NEGATIVE NUMBERS!!!!))
QUESTION 16 The utility function and the prices are the following: U = 53 x1 + 84 x2 P1=38, P2=78 and 1 =3353 What is the MRS?
QUESTION 17 The utility function and the prices are the following: U = 82 x1 + 20 x2 P1=7, P2=87 and 1=1782 What is the amount of maximized utility?
