Problem
Suppose the utility function for a consumer is given by U = 5XY. X is the amount of Good X and Y is the amount of Good Y.
A) Neatly sketch the utility function
B) Does this utility function exhibit diminishing marginal utility?
C) Calculate the marginal rate of substitution
D) Sketch two indifference curves based on the utility function above.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.