Question
U(x1,x2)=x1+x2. Are the preferences locally non-satiated? What about monotone? What about strongly monotone? Justify your answers. Are the preferences convex? What about strictly convex? Justify
U(x1,x2)=x1+x2.
Are the preferences locally non-satiated? What about monotone? What about strongly monotone? Justify your answers.
Are the preferences convex? What about strictly convex? Justify your answer.
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Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
8th edition
978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123
