Consider the following utility functions.G(x,y) = -1/[ min (6x,2y)+1]H(x,y) = min (6x,6y)²L(x,y) = min (6x,2y) - 100000000003U(x,y) = min (3x, y)³W(x,y) = min (6x, y)³ + 2Z(x,y) = min (x,2y)Which of the above functions, if any, is homogeneous of degree 3?Select one or more:a. None.b. Zc. Ld. Ge. Uf. Wg. H

Utility functions symbolizes the pleasure or satisfaction that customers feel after using a product…

Consider the following utility functions. (x,y) = −1 / [ min (6x, 2y)+1] ■(x,y) = min(6x,6y)² (x,y) = min (6x,2y) - 10000000000 (x,y) = min(3x, y) ³ √(x,y) = min (6x, y)³ + 2 (x,y) = min (x,2y) Which of the above functions, if any, is homogeneous of degree 3? elect one or more: a. None. b. Z C. L d. G e. U f. W a. H

Consider the following utility functions. (x,y) = −1 / [ min (6x, 2y)+1] ■(x,y) = min(6x,6y)² (x,y) = min (6x,2y) - 10000000000 (x,y) = min(3x, y) ³ √(x,y) = min (6x, y)³ + 2 (x,y) = min (x,2y) Which of the above functions, if any, is homogeneous of degree 3? elect one or more: a. None. b. Z C. L d. G e. U f. W a. H

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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