Question
. Assuming that rational preference relation is continuous, monotonic and homothetic. Show that rational preference relation is represented by a utility function that satifies, the
. Assuming that rational preference relation is continuous, monotonic and homothetic.
Show that rational preference relation is represented by a utility function that satifies, the following: for any > 0, and any x X,
u(x) = u(x)
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Economics Today The Macro View
Authors: Roger LeRoy Miller
19th Edition
0134478762, 978-0134478760
