Econ 3251 4351 Examples for finding Marginal Utilities and the MRS Dr Myoung Lee University of Missouri Recall for a given Utility function Where Marginal Rate of Substitution Marginal Utility of good x Marginal Utility of good y derivative of the Utility function with respect to good x derivative of the Utility function with respect to good y For each of the following find 1 and the 2 3 U x y dydUdxdUMUMUMRSyx MRS MUx MUy dUdx U x y dUdy U x y MUx MUy MRS U x y 2x 5y5252 yxyxMUMUMRSdydUMUdxdUMU U x y 4xyxyMUMUMRSxdydUMUydxdUMUyxyx 44 U x y 12x1 3y2 3xyMUMUMRSyxdydUMUyxdxdUMUyxyx2843 13 13 23 2 Econ 3251 4351 Examples for finding Marginal Utilities and the MRS Dr Myoung Lee University of Missouri 4 5 6 U B C B2C1 2BCMUMUMRSCBdCdUMUBCdBdUMUCBCB42122 122 1 U x y 4x 6y3264yxyxMUMUMRSdydUMUdxdUMU 3 13 23 yxyxU xyyxyxMUMUMRSyxdydUMUyxdxdUMUyxyx2223 23 23 13 13 23 23 13 1