Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 19, 2024

Hi there, how do you know if a preference is quasi-linear or homothetic? For example, How would I be able to figure out if U(B,W)=2B

Hi there, how do you know if a preference is quasi-linear or homothetic? For example, How would I be able to figure out if

U(B,W)=2B + 5W

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Legal Fundamentals for Canadian Business

Authors: Richard A. Yates

4th edition

133370283, 978-0133370287

More Books

Students also viewed these Economics questions

Question

★★★★★

1. Open the general ledger accounts and accounts payable ledger accounts indicated below. Enter the balance of Cash as of April 1, 2019. 2. Post the entries in Problem 8.2B from the general journal...

Answered: 1 week ago

Question

★★★★★

14. The sample mean and sample variance of five data values are, respectively, x =104 and s2 =4. If three of the data values are 102, 100, 105, what are the other two data values?

Answered: 1 week ago

Question

★★★★★

=+b) Aaron thinks the market survey is likely to be optimistic. Hed estimate a 65% probability that it would predict the higher (.5) probability of high demand. What would be the EVwSI?

Answered: 1 week ago

Question

★★★★★

Variable costing versus absorption costing. The Mavis Company uses an absorption-costing system based on standard costs. Total variable manufacturing cost, including direct material cost, is $3 per...

Answered: 1 week ago

Question

★★★★★

Commissioner of Taxes ( SA ) v Executor Trustee & Agency Co of South Australia Ltd ( Carden s case ) ( 1 9 3 8 ) 6 3 CLR 1 0 8 is authority for the proposition that: a ) The correct method of...

Answered: 1 week ago

Question

★★★★★

You design a Database system based on MySQL and encapsulate it into a desktop app that works offline. What kind of architecture is this Database system? Centralized architecture Two-tier...

Answered: 1 week ago

Question

★★★★★

As CIO of BellyBig, a new chain of fast - food restaurants, you are responsible for setting up the information systems infrastructure. Brefly outline your vision for all the components of this...

Answered: 1 week ago

Question

★★★★★

Outdoor Equipment (OE) sells camping equipment. On December 1, the accounts receivable account had a balance of $50,000, the bad debt expense account had a balance of $0, and the allowance for...

Answered: 1 week ago

Question

★★★★★

explore how to reduce employee turnover, absenteeism and the cost turnover has on corporate profits. In the process of researching this topic, look into numerous ways companies have tried to improve...

Answered: 1 week ago

Question

★★★★★

CA3-AUDITING a) Describe the factors you as auditor should considered and the procedures should bee performed prior to acceptance as auditor (10 marks) b) A good system of internal control consists...

Answered: 1 week ago

Question

★★★★★

Can I get some help with these questions A glass is tapered so that it is narrower at the top than at the bottom. The glass is filled using a hose with a constant flow rate of 4 ml per second. Cross-...

Answered: 1 week ago

Question

★★★★★

QUESTION 2 An object of mass 2 kg is launched at an angle of 30" above the ground with an initial speed of 40 m/s. Neglecting air resistance , calculate: the kinetic energy of the object when it is...

Answered: 1 week ago

Question

★★★★★

The official stamp rule: We tend to have more confidence in information that is exempt from the Freedom of Information Act than if the same information was made readily available.

Answered: 1 week ago

Question

★★★★★

4. Based on a message you have recently received, analyse it in relation to its three components: a. the information component, b. its relational component and c. its hierarchical component.

Answered: 1 week ago

Question

★★★★★

3. Give an example of a problem or phenomenon in everyday life where information is presented in an emotional way.

Answered: 1 week ago

Previous Question Next Question