Question: Cinsider three utility functions u, v, w defined on strictly positive vectors with x 1 , x 2 > 0. Show that u and v
Cinsider three utility functions u, v, w defined on strictly positive vectors with x1, x2 > 0. Show that u and v are equivalent to one another, but that they are not equivalent to w.
1) u(x1, x2) = ln x1 +ln x2
2) v( x1, x2) = x1x2
3) w( x1, x2) = 2x1 + 3x2
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