1. Economics 214 Lecture 29 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