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2.(i) Determine if the following function is concave or convex: ee) =Iiy'3', m :3 0,2: 2 D. [This type of a utility function, where the

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2.(i) Determine if the following function is concave or convex: ee) =Iiy'3', m :3 0,2: 2 D. [This type of a utility function, where the exponents add up to 1, is commonly referred to as the Cobb-Douglos utility function.] (ii) Decide for which values of the constant c the following function is concave, convex or neither: f(3:, y) = 2:1:2 83/2 + cry I loy

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