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Explanation & Answer
Attached.
Question 1
a.
𝑚𝑎𝑟𝑔𝑖𝑛𝑎𝑙 𝑢𝑡𝑖𝑙𝑖𝑡𝑦 𝑜𝑓 𝑏𝑒𝑒𝑟
b. Marginal rate of substitution = 𝑚𝑎𝑟𝑔𝑖𝑛𝑎𝑙 𝑢𝑡𝑖𝑙𝑖𝑡𝑦 𝑜𝑓 𝑤𝑖𝑛𝑒
𝑑𝑦
MRS= 𝑑𝑥
8...
Attached.
Question 1
a.
𝑚𝑎𝑟𝑔𝑖𝑛𝑎𝑙 𝑢𝑡𝑖𝑙𝑖𝑡𝑦 𝑜𝑓 𝑏𝑒𝑒𝑟
b. Marginal rate of substitution = 𝑚𝑎𝑟𝑔𝑖𝑛𝑎𝑙 𝑢𝑡𝑖𝑙𝑖𝑡𝑦 𝑜𝑓 𝑤𝑖𝑛𝑒
𝑑𝑦
MRS= 𝑑𝑥
8...