Examlex
Use the figure to find the following.
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Quasilinear Preferences
Preferences where utility is linear in one argument, usually money, allowing for easy analysis of changes in wealth while other goods are evaluated non-linearly.
Homothetic
Pertaining to a class of production functions or utility functions where equal proportionate changes in inputs result in equal proportionate changes in output.
Utility Function
An economic tool used to encode a consumer's preference orderings over a set of alternatives into a real-valued function. (Duplicate rephrase)
Income
Funds obtained regularly as a result of employment or from returns on investments.
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