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.
Answer the following statement true (T) or false (F)
True
Rationale:
The Cobb-Douglas utility function 
is homogeneous of degree 
. Since we can take a utility function to any power an retain the same underlying indifference curves, we can represent Cobb-Douglas indifference curves with a function that is homogeneous of any degree.
is homogeneous of degree . Since we can take a utility function to any power an retain the same underlying indifference curves, we can represent Cobb-Douglas indifference curves with a function that is homogeneous of any degree.
Economics
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