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Are the following three utility functions monotonic, strong monotonic or non-monotonic; convex, strictly convex, or non-convex preferences: U(x,y) = max(x; y); U(x,y) = x2y2; U(x,y)
Are the following three utility functions monotonic, strong monotonic or non-monotonic; convex, strictly convex, or non-convex preferences: U(x,y) = max(x; y); U(x,y) = x2y2; U(x,y) = x2 + y2
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