EEP 100: PROBLEM SET 3(1) (T,F,U) When looking at an indifference map, one can tell that the preferences arehomothetic if the marginal rates of…
EEP 100: PROBLEM SET 3(1) (T,F,U) When looking at an indifference map, one can tell that the preferences arehomothetic if the marginal rates of substitution are constant along rays from theorigin.(2) You are the benevolent ruler of a very small kingdom consisting of of two subjects(indexed by i = 1, 2). The subjects in your kingdom consume two different goods,x1 and x2, which can be […]