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econ assign - such that f x 1 x f x 1 f x Then give a...

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ECON 331 Written Assignment 1 due in class Sept. 23 1. In ordinary arithmetic a b c a b c a . Use a Venn diagram to show however that A B C A B C A 2. Let X  x 1 , x 2 : 0 x 1 2 x 2 2 1 where U   2 . X is not a closed or an open set and neither is it a convex set. In all 3 cases, explain why. 3. The function f :    defined by f x x 3 is neither a convex or a concave function, Show this by giving an example of real numbers x and x  and another real number 0,1 such that
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Unformatted text preview: such that f x 1 x f x 1 f x Then give a second example where the opposite inequality holds. 4. Sketch one of the level curves of the function f x 1 , x 2 x 1 e x 2 where the level is negative. Then identify in your sketch the better set and the worse set of f with respect to a point on this level curve. Explain your answer...
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