Explore BrainMass
Share

Explore BrainMass

    The Marginal Rate of Substitution

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Please provide a detailed step by step solution for the following problem:

    Find the marginal rate of substitution for the following utility function:

    U=10+In X1+0.8In X2

    Please Word document attached.

    © BrainMass Inc. brainmass.com October 9, 2019, 9:18 pm ad1c9bdddf
    https://brainmass.com/economics/microeconomics/marginal-rate-substitution-180155

    Attachments

    Solution Summary

    The solution answers the question below. The marginal rate of substitution is examined.

    $2.19