Suppose the utility function of a consumer of goods x and y has the simple form u(X, Y) = √X. Y a) Graph (sketch) the u= 10 indifference curve associated with this utility function.

b) If X= 5, what must Y be equal to on the u= 10 indifference curve. What is the marginal rate of substitution (MRS) at this point?

c) In general, develop an expression for MRS for this utility function showing how this can be interpreted as the ratio of marginal utilities for X and Y

Need with my trade theory homework. i doubt what i wrote was right. consider a monopolistically competitive market for soft drinks in which n symmetric firms face the following demand function: q=s(1/n-b(p-(p with the straight line on which implies the marginal revenue functionmr=p-(q/sb)finally, suppose firms face the total cost functiontc=900,000+100qsuppose the market size, s, is 27,000,000, and the elasticity parameter b is 0.003.diagram the price and the average total cost in the market as a function of the number of firms. what are the equations for each curve, and why does each curve slope up or down? label the equilibrium number of firms and the equilibrium price in the diagram. why is this the equilibrium?

> > objectives define federalism and explain why the framers adopted a federal system instead of a unitary system. categorize powers delegated to and denied to the national government, and powers reserved for and denied to the states, and the difference between exclusive and concurrent powers.

In a transportation minimization problem, the negative improvement index associated with a cell indicates that reallocating units to that cell would lower costs. truefalse