Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN: 9781337517942
Author: NICHOLSON
Publisher: Cengage
Question
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Chapter 3, Problem 3.12P

a

To determine

To find:

Whether the given function is homothetic and dependency on ratio of y/x.

b)

To determine

When value of δ changes, the given function changes to Cobb-Douglas or Perfect Complement or Perfect Substitute.

c)

To determine

Function is strictly diminishing for all values.

d)

To determine

MRS depends on relative size of a and ß.

e)

To determine

Calculation of MRS and it’s graphical representation.

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