Harry's utility function is U = 5X + 15Y. Which property of consumer preferences does Harry's utility function violate? Explain your answer.
The utility function for a consumer is U = XY/(X +Y), where the MUX = Y2/(X+Y)2 and MUY= X2/(X + Y)2.
What is the slope of the indifference curve when X = 4.75 and Y = 4.75?
What is the marginal rate of substitution when X = 16 and Y = 4?