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02-06-2023
Mathematics

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Graph a typical indifference curve for the following utility functions and determine whether they obey the assumption of diminishing MRS: a. U(x, y) = 5x + y
b. U(x, y) = 2√xy
c. U(x, y) = (x¹/² + y¹/²)²
d. U(x, y) = (x² + y²)¹/²

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