1) a) Given the following typical utility curves determine whether they have convex indifference curves (that is, whether the Marginal Rate of Substitution declines as x increases). U(x.y)=/x -y b) Given the following Constant Elasticity of Substitution production function, show whether or not it is homogeneous, and the scale it exhibits. Q=[L² + K']

Microeconomic Theory
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Chapter4: Utility Maximization And Choice
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509 UNIT 1 ASSIGNMENT
ECON 509 UNIT 2 ASSIGNMENT X
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ars/Jo..
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AN Read aloud
V Draw
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ECON 509 ASSIGNMENT
UNIT ONE
Answer All questions
1) a) Given the following typical utility curves determine whether they have convex indifference
curves (that is, whether the Marginal Rate of Substitution declines as x increases).
U(x. y)-x² -y?
b) Given the following Constant Elasticity of Substitution production function, show whether
or not it is homogeneous, and the scale it exhibits. Q = [L² + K']^
2) Prove that the polynomial P(x) = -2x3 + 2x2 + 10x+ 6 has a zero at x 3, and factor
the polynomial.
%3D
3) The demand and supply functions for two related goods; jeans (x) and shirts(y). are given by
Transcribed Image Text:509 UNIT 1 ASSIGNMENT ECON 509 UNIT 2 ASSIGNMENT X PDF ars/Jo.. Tp AN Read aloud V Draw Highlight ECON 509 ASSIGNMENT UNIT ONE Answer All questions 1) a) Given the following typical utility curves determine whether they have convex indifference curves (that is, whether the Marginal Rate of Substitution declines as x increases). U(x. y)-x² -y? b) Given the following Constant Elasticity of Substitution production function, show whether or not it is homogeneous, and the scale it exhibits. Q = [L² + K']^ 2) Prove that the polynomial P(x) = -2x3 + 2x2 + 10x+ 6 has a zero at x 3, and factor the polynomial. %3D 3) The demand and supply functions for two related goods; jeans (x) and shirts(y). are given by
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