1
answer
0
watching
128
views
1 Apr 2018
Monotonic Transformations: Assume preferences for x and y are given by some utility function: U(x,y), and that f(U) is a transformation for U(x,y). Show whether or not f(U) is a valid monotonic transformation of U(x,y)
1. f(U) = u + 50
2. f(U) = u - 1000
3. f(U) = -u
4. f(U) = u^2
5. f(U) = 1/u^2
6. f(U) = -(1/u)
Monotonic Transformations: Assume preferences for x and y are given by some utility function: U(x,y), and that f(U) is a transformation for U(x,y). Show whether or not f(U) is a valid monotonic transformation of U(x,y)
1. f(U) = u + 50
2. f(U) = u - 1000
3. f(U) = -u
4. f(U) = u^2
5. f(U) = 1/u^2
6. f(U) = -(1/u)
Lelia LubowitzLv2
2 Apr 2018
