The utility function for a consumer is U = XY/(X +Y), where the MUX = Y2/(X+Y)2 and MUY = X2/(X + Y)2. a. What is the slope of the indifference curve when X = 3.75 and Y = 3.75? b. What is the marginal rate of substitution when X = 4 and Y = 16?
Indifference curve is the curve showing locus of different combination of 2 goods providing same level of... View the full answer