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For each of the following utility functions, calculate (or figure out) the MRS and sketch out an indifference curve for U=4, plotting at least 2 points on each curve. Also make clear if the indifference curve hits the x and/or y axis. (4 points) a) U(x,y) = 2 ln x + (ln y)/(2) b) U(x,y) = 2x + 1/2y

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For each of the following utility functions, calculate (or figure

out) the MRS and sketch out an indifference curve for U=4, plotting at least 2 points on each curve.  Also make clear if the indifference curve hits the x and/or y axis.  (4 points)
a)   U(x,y) = 2 ln x + (ln y)/(2)
b)   U(x,y) = 2x + 1/2y

 
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