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I have a utility function:U(X,Y) = 2X +12lnYThis appears to be a function for perfect substitutes so MUx would be 2, easy enough. Now onto MUy. I know that the derivitive of a lorgorithm such as lnX would be 1/X. Does this mean that MUy would be 12/Y --- (12*1/Y)? Giving an MRS of 2/(12/Y)? I think I have the MUY and subsequent MRS wrong since i should be getting an MRS that looks like a/b where a and b are the positive constants infront of X and lnY. Can anyone help me with this?
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