Essay
Consider the utility function .Which of the following are true statements about the indifference maps represented by this function.
a.
MRS=-1 along the 45 degree line if and only if
.
b.
MRS=-1 along a ray steeper than the 45 degree line if and only if
.
c.
MRS=-1 along a ray shallower than the 45 degree line if and only if
.
d.
All of the above.
e.
None of the above.
Correct Answer:

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Correct Answer:
Verified
When the exponents are equal to one an...
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