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1. Consider the following utility functions: (i) U(x,y)- 6xy, (ii) U(x,y)=(1/5)xy, MU,--y and MU,--x ii) U(x,y)-(2xy)M 8xy2 and MUy -8x2y MU,-6y and MUy-6x (note- corrected MUs)  

For each of these utility functions,  

b. Compute the MRS.

c. Do these tastes have diminishing marginal rates of substitution? Are they convex?

d. Construct an indifference curve for each of these functions for utility numbers U1 = 10 , U2 = 100 , U3 = 200 .

e. Do these utility functions represent different preference orderings?

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