Question: Submission details: A complete submission should contain: (1) A function of your choosing. The function should be named by the capitalized first letter of your
Submission details: A complete submission should contain:
(1) A function of your choosing. The function should be named by the capitalized first letter of your last name and variable names should be the consonants of your first name. For example, for me the function would be B(k,r). The function should be a function of at least two variables and should contain at least two parts of different nature. For example, one part can be a polynomial, another part an exponential function. Parts could also be rational functions or logarithms.
(2) Describe the level curve through the point (2,5).
(3) Compute all first partial derivatives of your function,
(4) Compute the partial elasticity with regard to the variables that your function depends on.
(5) Find a linear approximation to your function at the pott (1,1).
(6) Consider the level curve you described in (2). It implicitly defines a function of your second variable on all other variables. Find the first-order partial derivative of that variable with regard to the first variable at the point (2, 5).
(7) Find a linear approximation for the level curve at the point (2,5).
(8) Test whether your function is homogeneous. If so- of what degree?
(9) Test whether your function is homothetic. If it is - make a formal argument. If it is not - show a counterexample.
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