Describing the homogeneity properties of the functions

Reference no: EM132206704

Question: Show that the result in part(a)implies that individuals will allocate their funds equally between x and y for the Cobb-Douglas case(8=0), as we have shown before in several problems How does the ratio Pr x/py depend on the value of 8: Explain your results intuitively, describing the homogeneity properties of the functions you calculated check.

Reference no: EM132206704

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