You don't need to answer questions A & B. I just need C & D
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Can someone please explain the conditions to determine if a function such as u(x,y)=3x+2y is:
a) Monotonic
b) Convex
c) Quasilinear
d)Homogenous
I don't need the math explained, I just need to know what the end result needs to be for me to determine what the function is. All help is greatly appreciated!
I need help figuring out this problem but I need help understanding how to solve it I don't just need an answer as really the answer is unimportant it's just me knowing how to solve a problem like this.How much money would be required to be paid each year in nine equal payments that would begin two years from today in order to repay a $10,416 loan that was received from the bank today while the interest rate is 6% per year?Thanks to anyone who can help me understand how to solve this problem with detailed steps and explanations.
Which statement is/are TRUE? (Pick ONE; 1 pt.)
I. Positive economic analysis can inform normative judgments but cannot provide definitive answers to these questions.
II. Economics can answer questions about what is ethical.
III. Economic theory guarantees the efficient solution will always be the most fair and equal.
A. I only
B. I & III only
C. I & II only
D. III only
