Solved

The Utility Function U(x₁, X₂)= 2lnx₁ + 3lnx₂ Represents Cobb-Douglas

Question 50

Question 50

True/False

The utility function U(x₁, x₂)= 2lnx₁ + 3lnx₂ represents Cobb-Douglas preferences.

Correct Answer:
Verified
Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q45: Victor Finick likes to have the same

Q46: Wanda Lott has the utility function U(x,

Q47: A person with utility function U(x, y)=

Q48: Charlie has the utility function U(x<sub>A</sub>, x<sub>B</sub>)=

Q49: Janet consumes x<sub>1</sub> and x<sub>2</sub> together in

Q51: Quasilinear preferences are homothetic when the optimal

Q52: Jim's utility function is U(x, y)= xy.Jerry's

Q53: Alice's utility function is U(x, y)=x<sup>2</sup>y.Steve's utility

Q54: Isabella's utility function is U(x, y)= 4min{x,

Q55: A consumer has preferences represented by the