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9 Mar 2023
a) U = xy
b) U = (xy)^1/3
c) U = min(x,y/2)
d) U = 2x + 3y
e) U = x^2 y^2 + xy
2. All homogeneous utility functions are homothetic. Are any of the above
functions homothetic but not homogeneous? Show your work.
a) U = xy
b) U = (xy)^1/3
c) U = min(x,y/2)
d) U = 2x + 3y
e) U = x^2 y^2 + xy
2. All homogeneous utility functions are homothetic. Are any of the above
functions homothetic but not homogeneous? Show your work.
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