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a. Show that CES function U(x, y) = ? x ^ ?/? + ? y^?/? is homothetic.
b. Show that the MRS is strictly diminishing on x for all values of ? < 1.
c. Show that if x = y, the MRS for this function depends only on the relative sizes of ? and ?.
d. Find the Marshallian demands when ? = 0.5
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