Which of the Following Are True About Functions in the Duality

question 9

Multiple Choice

Which of the following are true about functions in the duality picture:

• A)Compensated demand functions are homogeneous of degree zero in prices.
• B)Uncompensated demand functions are homogeneous of degree zero.
• C)Expenditure functions are homogeneous of degree zero.
• D)Both (a) and (b).
• E)Both (b) and (c).
• F)Both (a) and (c).
• G)All of the above.
• H)None of the above.

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Definitions:

Firm's Product

The goods or services produced by a firm, designed to meet consumer needs or desires, distinguishing the firm in its market.

Frictional Unemployment

Short-term unemployment that arises from the process of matching workers with jobs.

Workers Equally Well Suited

A situation in which workers possess the same skills and abilities, making them interchangeable in their roles without affecting productivity.

Structural Unemployment

A form of unemployment caused by a mismatch between the skills that workers in the economy can offer and the skills demanded by employers.