Freebies just for you

We are available 24/7

We help you complete college assignments in under 24 hours.

Get help with essays, research papers, PowerPoint Presentations, reports, reviews, and projects at incredibly low prices.

Homogeneous degree

A function f(X,Z) homogeneous degree y , we multiply each argument a constant, ?, f(?X,?Z)=?Tf(X,Z). Thus, if a function is homogeneous of degree zero, f(?X,?Z)=f(X,Z) because ?0=1. Show that optimal conditions for Cobb-Douglas utility function U(X,Z)=xaz1-a are homogeneous of degree zero. Explain why that result is consistent with the intuition that if we double all prices and income, the optimal bundle does not change. Let the price of good X be Px, let the price of good Z be Pz, and let income be Y. Solve the optimal value of good X and Z!Boyd has the following utility function: U=100B.C0.5, where B represents books and C represents audio CDs. Bundle A contains 7 units of good B and 36 units of good C. Bundle B contains 10 units of good B and 9 units of good C. Which bundle does he prefer? How much is his total level of utility in this case?

“Struggling with a similar assignment?”

Place an order below and we’ll get it done within the deadline selected.

Custom Papers

We will write a custom paper for you at $15.50 $11/page

Free title page

Free reference page

Free formatting

Unlimited revisons

EssayTab is hands down the best essay writing service for college students. I was initially skeptical about the quality of a product that has such a low price point but I can tell you that it’s worth every penny! I’ve been using EssayTab for my essays in college as well as in grad school, and they always deliver excellent content.

College Student