Consider the following utility functions. G(x,y) = x² + 3y² H(x,y) = (x+1)¹/2 + y + 1 L(x,y) = x ey U(x,y) = ln(x) + y² W(x,y) = 100 x - 4x² + 3 y Z(x,y) = (x)¹/2 + y Which function or functions have strictly convex indifference curves (at every point where x>0 and y>0)?
Consider the following utility functions. G(x,y) = x² + 3y² H(x,y) = (x+1)¹/2 + y + 1 L(x,y) = x ey U(x,y) = ln(x) + y² W(x,y) = 100 x - 4x² + 3 y Z(x,y) = (x)¹/2 + y Which function or functions have strictly convex indifference curves (at every point where x>0 and y>0)?
Chapter3: Preferences And Utility
Section: Chapter Questions
Problem 3.3P
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Transcribed Image Text:Consider the following utility functions.
G(x,y) = x² + 3y²
H(x,y) = (x+1)¹/2 + y + 1
L(x,y) = xey
U(x,y) = In(x) + y²
W(x,y) = 100 x - 4x² + 3 y
Z(x,y) = (x)¹/² + y
Which function or functions have strictly convex indifference curves (at every point where x>0 and y>0)?
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