Examlex

Solved

Suppose That a Consumer Has Utility Function U(x,y)\mathrm { U } ( \mathrm { x } , \mathrm { y } )

question 83

Multiple Choice

Suppose that a consumer has utility function U(x,y) \mathrm { U } ( \mathrm { x } , \mathrm { y } ) with MUx=5y2x\mathrm { MUx } = 5 \mathrm { y } 2 \mathrm { x } and MUy=2x2y\mathrm { MUy } = 2 \mathrm { x } 2 \mathrm { y } . What is the marginal rate of substitution?


Definitions:

Appellate Court

A court that reviews the decisions of lower courts to ensure the law was applied correctly and justice was served.

Employment-At-Will Doctrine

The doctrine which provides that either the employer or the employee can terminate the employment relationship at any time.

Science Fiction

A genre of literature and media that explores imaginative and futuristic concepts, often involving advanced technology, space exploration, and otherworldly phenomena.

Human Resources

The department within an organization that is responsible for the management of employee-related processes including recruitment, training, and compliance with labor laws.

Related Questions