Economics Homework Solutions
Problem
#2125

Complement Utility Function MRS

How do you find the MRS of a utility function describing complement preferences, e.g U=min(3x+y,x+2y)?

How do you go about drawing an indifference for such a utility function?


Solution Summary

The solution does a great job of explaining how one finds the MRS of a utility function describing complement preferences. The solution then goes on to explain how one goes about drawing an indifference for such a utility function? The solution also provides an indifference curve for the utility function. The solution is concise yet easy to understand and follow. Overall, an excellent response for the question being asked.

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Monwar Rahman, MSS, MBA  - 4.9/5
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