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Unformatted text preview: ) , ( y x is the , 1 x y MRS x = . At 4 = x , , 1 0.5 4 x y MRS = = . Note that this holds regardless of the value of y . Therefore, the slope of any indifference curve at 4 = x will be 0.5. 3.24 3.21. First, the expression for MRS x,y is ( 29 x y y x y x MU MU MRS y x y x α1 == =1 1 1 , Since we know that MRS x,y = 4 when x = 4 and y = 8, 3 2 2 2 1 2 4 8 1 4 = ===...
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This note was uploaded on 01/30/2011 for the course 730 368 taught by Professor Bryant during the Spring '08 term at Rutgers.
 Spring '08
 Bryant

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