Answer to Question #139546 in Microeconomics for Kelvin

Question

A consumer’s utility function is:
U = 20 XY
Where U is the consumer’s utility, X is the amount of good X consumed per month, and Y is the amount of good Y consumed per month
(a ) If the consumer is consuming 5 units of good Y per month, what is the marginal utility of good X?
(b ) Can you answer question (a ) without knowing how many units of good X the consumer is consuming?
( c ) Is this utility function realistic? What “law” does it violate?

Answer 1

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