1. given the new utility function: u′=ln(u)=ln(2xayb)=ln(2)+a×ln(x)+b× ln(y).what is mrsx, y of this new utility function? 2. will the mrs be still the same for each of the following transformation? explain without directly solving for mrs. a) u′=u2 b) u′=1/u2 c) u′=1987×u−507 d) u′=eu 3. explain why taking a monotonic transformation of a utility function does not change the marginal rate of substitution (mrs).