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Author Question: If the utility function (U) between bananas (B) and jam (J) can be represented as U(B,J) = ... (Read 211 times)

haleyc112

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If the utility function (U) between bananas (B) and jam (J) can be represented as U(B,J) = 3ln(B)+4ln(J), what is the marginal rate of substitution (MRS) between bananas and jam?
 
  A) 4B.
  B) -3J/(4B).
  C) 4/(3J).
  D) 3B/J.

Question 2

If the utility function (U) between bananas (B) and jam (J) can be represented as U = 3ln(B)+4ln(J) the marginal utility of jam equals
 
  A) 4B.
  B) 3B/J.
  C) 4/J.
  D) B/J.


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ecabral0

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haleyc112

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Reply 2 on: Jul 1, 2018
Excellent


bigcheese9

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Reply 3 on: Yesterday
Wow, this really help

 

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