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In a quasilinear preference what is the only condition for to be consumed together?
Wiki User
∙ 14y ago
In economics and consumer theory, quasilinear utility functions are linear in one argument, generally the numeraire. Formally, for example, such a utility function could be written U(x,y) = u(x) + by, where b is a positive constant. Then if u'(x) > 0 and u''(x) < 0, the indifference curves are parallel. Because in standard consumer theory utility functions are ordinal, one may assume without loss of generality that b = 1.
These links will lead you to a detailed explanation :
http://www.econ.ku.dk/grodal/RES.pdf
http://www.hks.harvard.edu/nhm/notes/not…
Wiki User
∙ 14y ago
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