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Hello. I need help with solving the questions (attached below). *CES = Constant elasticity of substitution Thank you! Problem 2 1 1. Consider the following
Hello. I need help with solving the questions (attached below).
*CES = Constant elasticity of substitution
Thank you!
Problem 2 1 1. Consider the following CES utility function: r 1 Mat) = [33312 +x22]2. 0 Show that the function is homothetic. - Draw one indifference curve. 0 Compute the marginal rate of substitution. 2. Consider the function: Mm) = 3ln(w1) + m2. 0 Show that the function is quasilinear. 0 Draw one indifference curve. 0 Compute the marginal rate of substitution. 3. Consider the function: u(:c) = 3:31 + $2. - Draw one indifference curve. 0 Compute the marginal rate of substitutionStep by Step Solution
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