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For each of the utility functions below classify them into Homothetic , Quasilinear, both or neither. Make sure you brie
Posted: Thu May 19, 2022 9:52 am
by answerhappygod
- For Each Of The Utility Functions Below Classify Them Into Homothetic Quasilinear Both Or Neither Make Sure You Brie 1 (23.39 KiB) Viewed 46 times
For each of the utility functions below classify them into Homothetic , Quasilinear, both or neither. Make sure you briefly explain why you made that choice. (a) u(x1, x2) = min{2x1, x2} = (b) u(x1, x2) = x} + x = (c) u(x1,x2) = ln(x1) + In(x2) = (d) u(x1, x2) = 2x1 + x2 = (e) u(x1, x2) = -(x1 - 1)2 – (x2 - 1)2 =