[Solved] Lafonda thinks X and Y are perfect substitutes, and she likes good X three times as much as good Y. a. Identify Lafonda’s utility function. Calculate her marginal utility of X

in this post you eill get answer of Lafonda thinks X and Y are perfect substitutes, and she likes good X three times as much as good Y.
a. Identify Lafonda’s utility function. Calculate her marginal utility of X by insureinsurancelife


Lafonda thinks X and Y are perfect substitutes, and she likes good X three times as much as good Y.
a. Identify Lafonda’s utility function. Calculate her marginal utility of X and Y by taking partial derivatives. Use your answers to calculate Lafonda’s MRS XY.
b. Three bundles lie on the same indifference curve. These bundles contain 0, 2, and 4 units of X , respectively. How many units of Y might each of these bundles contain (There is more than one correct answer. You only need to give one.)


Thank you for coming, Let us know what else we should do to make our content interesting and don’t forget to check the comment section because sometimes our users drop some interesting questions or riddles below and you can enjoy solving them. In the end it benefits the whole community.

Leave a Comment