=+c. Is it possible for tastes to be nonmonotonic (less is better than more) but still homothetic?

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Microeconomics An Intuitive Approach With Calculus

ISBN: 9781337335652,9781337027632

2nd Edition

Authors: Thomas Nechyba

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Question Posted: Nov 02, 2024 06:01 AM

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=+c. Is it possible for tastes to be nonmonotonic (less is better than more) but still homothetic?
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=+b. Can there be homothetic tastes where one of the two goods is essential and the other is not? If so, give an example.
=+d. Is it possible for tastes to be monotonic (more is better), homothetic but strictly non-convex (i.e., averages are worse than extremes)?
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=+c. Is it possible for tastes to be nonmonotonic (less is better than more) but still homothetic?

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Microeconomics An Intuitive Approach With Calculus

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