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Question: 4 a cobbdouglas utility function is given as u ...

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4. A Cobb-Douglas utility function is given as U = M B , where B repre- sents the quantity of books consumed and M represents magazines (a) At a combination of 20 magazines and 10 books, what is the utility? (b) At a combination of 20 magazines and 10 books, what is the marginal (c) At a combination of 20 magazines and 10 books, what is the MRS (d) What is the loss of utility by moving from a bundle of 20 books and (e) How many books are required along with 10 magazines to give the utility of magazines? (Assume books are on the vertical axis)? magazines each to a bundle of 20 books and 10 magazines? same utility as 20 of each?

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