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Author Question: Some people view cosmetic surgery (c) and facials (f) as perfect substitutes as measured by the ... (Read 50 times)

Awilson837

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on: Jul 1, 2018
Some people view cosmetic surgery (c) and facials (f) as perfect substitutes as measured by the utility function U(c,f) = 5c + 10f. What is the marginal utility of cosmetic surgery?
 
  A) MU = 5.
  B) MU = 10.
  C) MU = 15.
  D) None of the above.

Question 2

Clifford lives by the motto Eat drink and be merry today, for tomorrow doesn't matter. If today's consumption is represented by x and tomorrow's consumption is represented by y, then which of the following best represents Clifford's utility function?
 
  A) U = x - y
  B) U = x/y
  C) U = x
  D) U = y
Microeconomics ¦ Perloff ¦ 8th Edition
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jjorrostieta

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


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