Derivation of the MRS for a Quasi-Linear Utility Function

Analyzing Production Efficiency

An individual's preferences for free time (t) and consumption (c) are represented by the utility function u(t, c) = 4√t + c. What is the marginal utility of free time for this individual?

For an individual whose preferences for free time (t) and consumption (c) are represented by the utility function u(t, c) = ln(t) + c, the additional satisfaction gained from an extra hour of free time diminishes as the total amount of free time increases.

Comparing Preferences for Free Time

Comparing Preferences for Free Time

An individual's preferences for free time (t) and consumption (c) are described by a utility function of the form u(t, c) = v(t) + c. For which of the following specifications of v(t) would the additional satisfaction from an extra hour of free time be constant, regardless of how much free time the individual already has?

An individual's preferences for free time (t) and consumption (c) are represented by a utility function of the form u(t, c) = v(t) + c. Match each function v(t) with the correct description of the marginal utility of free time it implies.

Economic Interpretation of Quasi-Linear Utility

Modeling Preferences for Leisure

Reconstructing Utility from Marginal Utility