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Economics 2301

Economics 2301. Lecture 28 Multivariate Calculus. Homogeneous Function. Cobb-Douglas Function. Euler’s Theorem. Homogeneity of degree 1 is often called linear homogeneity . An important property of homogeneous functions is given by Euler’s Theorem . Euler’s Theorem.

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Economics 2301

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  1. Economics 2301 Lecture 28 Multivariate Calculus

  2. Homogeneous Function

  3. Cobb-Douglas Function

  4. Euler’s Theorem • Homogeneity of degree 1 is often called linear homogeneity. • An important property of homogeneous functions is given by Euler’s Theorem.

  5. Euler’s Theorem

  6. Proof Euler’s Theorem

  7. Division of National Income

  8. Properties of Marginal Products

  9. Arguments of Functions that are Homogeneous degree zero

  10. First Partial Derivatives of Homogeneous Functions

  11. Proof of previous slide

  12. Homothetic function

  13. Example homothetic function

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