If Tastes Are Cobb-Douglas, They Can Be Represented by a Utility

question 14

True/False

If tastes are Cobb-Douglas, they can be represented by a utility function that is homogeneous of degree k where k can take on any positive value.

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Definitions:

Sodium Channels

Ion channels located on cell membranes that selectively allow sodium ions to flow into or out of cells, crucial for conducting electrical signals.

Depolarizes

The process by which the electrical charge of a neuron's membrane decreases, moving towards zero or becoming less negative.

Hyperpolarizes

Refers to an increase in the membrane potential of a cell, making the interior more negatively charged relative to the outside and reducing the likelihood of generating an action potential.

Absolute Refractory Period

A period immediately following the transmission of an impulse in nerve or muscle in which it cannot respond to another stimulus, ensuring the unidirectional flow of impulses.