The manifold inverse function theorem states: if is smooth and is an isomorphism, there are open neighborhoods of and of such that is a diffeomorphism. In particular the manifolds have the same dimension at those points.
Choose charts around and around , shrinking the source chart so its image under lies in the target chart. The coordinate map has derivative , an invertible matrix. Apply the permitted Euclidean inverse function theorem to obtain open coordinate neighborhoods on which and are smooth. Pull them back through the charts. The resulting inverse is , smooth by composition. This proves the manifold statement.
Differentiate the homogeneity identity with respect to at one to obtain Euler's identityOn , its right side is , so . Thus is a regular value. The preimage theorem says that the nonempty inverse image of a regular value of a smooth map is a smooth submanifold of codimension . Applied to , it gives .
For , dilation by maps to , because . Its inverse is dilation by , so all nonempty positive level manifolds are diffeomorphic.
A negative level need not be diffeomorphic to a positive one, even when both are nonempty. For , is connected (parametrize it by ), whereas has two components, according to . Thus the answer for opposite signs is no. If is odd, the additional symmetry does interchange opposite levels up to scaling, but the question allows even degrees.
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