Does utility function exhibit diminishing marginal utility

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Reference no: EM13690211

Using the Utility Function: U(x,y)=20x^2*y complete the following:

A. Does the utility function exhibit diminishing marginal utility for good x? Explain how you know

C. Solve for the consumers optimal demand for goods x and y using the la Grange method

C. interpret the value of the LaGrange multiplier

Reference no: EM13690211

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