Hi, I am having a lot of difficulty trying to solve these problems. Please provide me step-by -step detailed explanations so that I can understand how problems were solved. thanks.© BrainMass Inc. brainmass.com October 24, 2018, 7:56 pm ad1c9bdddf
Apply the utility function.
Graphing a utility function with exponents and calculating Marginal Utility
a) With a utility function of U(S,A)= S^0.4*A^0.6, derive a set of data points for U=1 and then plot a graph to show this indifference curve. Hint: use maximum values of 9 apples (A) and 27 sandwiches (S).
b) When U=1, and using a maximum value of 27 sandwiches (S) and 9 apples (A), calculate the marginal utility of S and A.View Full Posting Details