Find marginal utilities and marginal rates of substitution, Microeconomics

+44 141 628 6080
[email protected]

Find marginal utilities and marginal rates of substitution

How to find a MRS for three goods.

Consider the Cobb-Douglas utility function U = U(X,Y,Z) for the case of three goods X,Y and Z defined by
U = (X,Y,Z)=(X^1/3).(Y^1/3).(Z^1/3)

What are the marginal utilities and marginal rates of substitution for this utility function?

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find marginal utilities and marginal rates of substitution

Reference No:- TGS048295

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Microeconomics

Q : How much overhead should be applied to customer order

During the past year, Wake accepted a customer order for a set of custom-made cabinets that would require the following:

Q : Problem on effective-interest method and plans

The discount of $23,900 provides an effective yield of 11%. Patton Company uses the effective-interest method and plans to hold these bonds to maturity.

Q : How the income will differ under absorption costing

Frazier sells its product for 8800 per unit. Variable costs per unit are: manufacturing, 4800 and selling and administrative $100. Fixed costs are $24000 manufacturing overhead and $32000 selling and administrative.

Q : Discuss a corporate cost allocation

Discuss a corporate cost allocation that occurs at your current or former place of business, being sure to address the following points:

Q : Find marginal utilities and marginal rates of substitution

Consider the Cobb-Douglas utility function U = U(X,Y,Z) for the case of three goods X,Y and Z defined byU = (X,Y,Z)=(X^1/3).(Y^1/3).(Z^1/3). What are the marginal utilities and marginal rates of substitution for this utility function?

Q : Tax cash outflows of eastern trucking

Determine the after tax cash outflows of Eastern Trucking under each alternative.

Q : Graph the isoquant for which quarts of chili are given

where K is the number of large pots used each hour and L is the number of worker hours employed. Pot rental costs $2/hour and worker wages are $8 per hour. Graph the isoquant for which q = 2000 quarts of chili.

Q : Customer level indirect cost incurred

Discuss a customer level indirect cost incurred at your current or former place of business, being sure to address the following points:

Q : How much cost would the firm anticipate

Bowman, Inc., has only variable costs and fixed costs. A review of the company's records disclosed that when 300,000 units were produced, fixed manufacturing costs amounted to $1,500,000 and the cost per unit manufactured totaled $18. On the basis

1932259

Questions
Asked

3,689

Active Tutors

1450971

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find marginal utilities and marginal rates of substitution

Reference No:- TGS048295

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : How much overhead should be applied to customer order

Q : Problem on effective-interest method and plans

Q : How the income will differ under absorption costing

Q : Discuss a corporate cost allocation

Q : Find marginal utilities and marginal rates of substitution

Q : Tax cash outflows of eastern trucking

Q : Graph the isoquant for which quarts of chili are given

Q : Customer level indirect cost incurred

Q : How much cost would the firm anticipate

How protein is an essential part of our health

Discuss about health information exchanges in the niles

Discuss education and care services national regulations

How to determine if there is a quality issue

What inter-professional involvement needs to be considered

Why should contraception be a reproductive right

Problem regarding childhood education and care services

Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find marginal utilities and marginal rates of substitution

Reference No:- TGS048295

Recent Questions Asked Microeconomics

Q : How much overhead should be applied to customer order

Q : Problem on effective-interest method and plans

Q : How the income will differ under absorption costing

Q : Discuss a corporate cost allocation

Q : Find marginal utilities and marginal rates of substitution

Q : Tax cash outflows of eastern trucking

Q : Graph the isoquant for which quarts of chili are given

Q : Customer level indirect cost incurred

Q : How much cost would the firm anticipate

Asked Questions