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U(X,Y) = ln(X) + ln(Y) I = 50, Px = 5, Py = 10 Find MRSX,Y...

U(X,Y) = ln(X) + ln(Y)
I = 50, Px = 5, Py = 10

  1. Find MRSX,Y
  2. Find demand functions for X and Y
  3. Find the optimal bundle for the following values of the exogenous variables

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Answer #1

Step by step solution is provided in the pic attached here.

maximizing haie, we haveㄧㄡ ㄧㄒ 2K 20 0 2 2 ) 그2 ナイ

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