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Economics 214 Lecture 29 Multivariate Calculus
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Homogeneous Function
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Cobb-Douglas Function
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Euler’s Theorem Homogeneity of degree 1 is often called linear homogeneity. An important property of homogeneous functions is given by Euler’s Theorem.
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Euler’s Theorem
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Proof Euler’s Theorem
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Division of National Income
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Properties of Marginal Products
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Arguments of Functions that are Homogeneous degree zero
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First Partial Derivatives of Homogeneous Functions
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Proof of previous slide
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Homothetic function
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Example homothetic function
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