utility function of the consumer is given as follows. find MUx and MUy when x=100 and y=5 , u=200x+300+15xy-x^2-y^2
Answers
Answer:
heya here is the answer
Production is an economic activity. Production is a process where the goods and services are created or manufactured.
Utility refers to the usefulness of a good or service. For example, when a manufacturer converts the yarn into a cloth, he adds utility to yarn, so that we can wear it.
Thus, production creates as well as adds utility.
Explanation:
Production is an economic activity. Production is a process where the goods and services are created or manufactured.
Utility refers to the usefulness of a good or service. For example, when a manufacturer converts the yarn into a cloth, he adds utility to yarn, so that we can wear it.
Thus, production creates as well as adds utility.Production is an economic activity. Production is a process where the goods and services are created or manufactured.
Utility refers to the usefulness of a good or service. For example, when a manufacturer converts the yarn into a cloth, he adds utility to yarn, so that we can wear it.
Thus, production creates as well as adds utility.Production is an economic activity. Production is a process where the goods and services are created or manufactured.
Utility refers to the usefulness of a good or service. For example, when a manufacturer converts the yarn into a cloth, he adds utility to yarn, so that we can wear it.
Thus, production creates as well as adds utility.Production is an economic activity. Production is a process where the goods and services are created or manufactured.
Utility refers to the usefulness of a good or service. For example, when a manufacturer converts the yarn into a cloth, he adds utility to yarn, so that we can wear it.
Thus, production creates as well as adds utility.Production is an economic activity. Production is a process where the goods and services are created or manufactured.
Utility refers to the usefulness of a good or service. For example, when a manufacturer converts the yarn into a cloth, he adds utility to yarn, so that we can wear it.
Thus, production creates as well as adds utility.Production is an economic activity. Production is a process where the goods and services are created or manufactured.
Utility refers to the usefulness of a good or service. For example, when a manufacturer converts the yarn into a cloth, he adds utility to yarn, so that we can wear it.
Thus, production creates as well as adds utility.
hope it helps you t❤️❤️❤️❤️❤️❤️
Explanation:
Understanding Utility Function
In economics, the utility function measures the welfare or satisfaction of a consumer as a function of consumption of real goods such as food or clothing. Utility function is widely used in the rational choice theory to analyze human behavior.
Understanding Utility Function
In economics, the utility function measures the welfare or satisfaction of a consumer as a function of consumption of real goods such as food or clothing. Utility function is widely used in the rational choice theory to analyze human behavior.
Utility is measured in units called utils, but calculating the benefit or satisfaction that consumers receive from is abstract and difficult to pinpoint. As a result, economists measure utility in terms of revealed preferences by observing consumers' choices. From there, economists create an ordering of consumption baskets from least desired to the most preferred.