Question

1.For each of the following utility functions, show whether the underlying preferences are monotonic, find the...

1.For each of the following utility functions, show whether the underlying preferences are monotonic, find the marginal utilities of x and y, and show if these are increasing, constant or diminishing:

a.u(x, y)=x2+4y2

b.u(x,y)=2x+5y

c.u(x,y)=3x+5y1/2

d.u(x,y)=4xy

2.For the utility functions in question 1, find the MRTS. What would the indifference curves look like for each?

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