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- Prove that if u is a reasonable utility function, then u(w) u(w h) > u(w + h) u(w) for any w > 0
- Prove that if u is a reasonable utility function, then u(w) u(w h) > u(w + h) u(w) for any w > 0 and h = (0, w).
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To prove the statement we can use the properties of a reasonable utility function A ...
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
