Question: 7. Show that the Cobb-Douglas utility function u: RY R defined by u(x1, x2) = xqxh, a, B > 0, (a) is concave if a

7. Show that the Cobb-Douglas utility function u: RY R defined by u(x1, x2) = xqxh, a, B > 0, (a) is concave if a + B = 1. (b) is quasi-concave, but not concave, if a +B > 1. Show also that h(x1, x2) = log(u(x1, x2)) is concave for any value of a > 0 and B> 0

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