Write short notes on following: a) Homogeneous and Homothetic functions b) L’Hopital’s rule c) Order of a difference equation d) Cramer – Rao inequality
a) Homogeneous and Homothetic Functions Homogeneous Function: A function f(x, y) is said to be homogeneous of degree n if scaling all inputs by a constant λ results in the output being scaled by λⁿ. Mathematically, f(λx, λy) = λⁿf(x, y) Example: f(x, y) = x² + y² is homogeneous of degree 2. In economics, […]