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Consider a consumer with preferences represented by the utility function u(x,y)=3x+6 sqrt(y) (a) Are these preferences...

Consider a consumer with preferences represented by the utility function

u(x,y)=3x+6 sqrt(y)

(a) Are these preferences strictly convex?

(b) Derive the marginal rate of substitution.

(c) Suppose instead, the utility function is:

u(x,y)=x+2 sqrt(y)

Are these preferences strictly convex? Derive the marginal rate of substitution.

(d) Are there any similarities or differences between the two utility functions?

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